Retirement Systems of Alabama Lowers Holdings in Chubb Limited (NYSE:CB)

Retirement Systems of Alabama decreased its holdings in shares of Chubb Limited (NYSE:CB) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,759 shares of the financial services provider’s stock after selling 20,656 shares during the quarter. Retirement Systems of Alabama’s holdings in Chubb were worth $64,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC grew its holdings in Chubb by 97.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 1,905 shares in the last quarter. Barclays PLC grew its position in shares of Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after acquiring an additional 388,746 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after acquiring an additional 2,250 shares during the last quarter. Savvy Advisors Inc. acquired a new stake in shares of Chubb during the 3rd quarter valued at approximately $721,000. Finally, Raymond James & Associates lifted its stake in Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after purchasing an additional 87,059 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on CB shares. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America upped their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their target price on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, JMP Securities increased their price objective on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and a consensus price target of $287.37.

Chubb Price Performance

Shares of NYSE:CB traded up $1.73 during trading hours on Friday, hitting $276.20. 36,504 shares of the company’s stock traded hands, compared to its average volume of 1,592,965. Chubb Limited has a 52 week low of $216.90 and a 52 week high of $302.05. The company’s fifty day simple moving average is $285.74 and its two-hundred day simple moving average is $276.64. The company has a market cap of $111.34 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 6.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.95 EPS. As a group, equities analysts anticipate that Chubb Limited will post 21.82 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.91 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.32%. Chubb’s dividend payout ratio is presently 14.91%.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.