Chubb Limited (NYSE:CB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in Chubb Limited (NYSE:CB - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 223,759 shares of the financial services provider's stock after selling 20,656 shares during the quarter. Retirement Systems of Alabama owned 0.06% of Chubb worth $64,530,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. AdvisorNet Financial Inc increased its holdings in Chubb by 24.5% in the second quarter. AdvisorNet Financial Inc now owns 1,033 shares of the financial services provider's stock valued at $264,000 after buying an additional 203 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Chubb in the 2nd quarter valued at about $37,000. Blue Trust Inc. raised its holdings in Chubb by 35.8% in the 2nd quarter. Blue Trust Inc. now owns 2,908 shares of the financial services provider's stock worth $754,000 after purchasing an additional 766 shares during the period. Brookstone Capital Management boosted its position in Chubb by 17.7% during the second quarter. Brookstone Capital Management now owns 1,009 shares of the financial services provider's stock worth $270,000 after purchasing an additional 152 shares in the last quarter. Finally, Saxon Interests Inc. grew its holdings in Chubb by 3.1% in the second quarter. Saxon Interests Inc. now owns 4,630 shares of the financial services provider's stock valued at $1,181,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CB. Bank of America upped their target price on Chubb from $275.00 to $282.00 and gave the stock an "underperform" rating in a research note on Thursday, October 10th. JMP Securities increased their price objective on shares of Chubb from $300.00 to $325.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. Barclays initiated coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an "overweight" rating and a $349.00 target price for the company. Jefferies Financial Group raised their price target on shares of Chubb from $294.00 to $295.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price target on Chubb from $291.00 to $294.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Chubb currently has an average rating of "Hold" and a consensus price target of $287.37.

Chubb Trading Up 0.6 %

Shares of NYSE:CB traded up $1.58 during midday trading on Friday, reaching $276.06. 1,383,853 shares of the company's stock were exchanged, compared to its average volume of 1,598,651. The stock has a market cap of $111.28 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 6.43 and a beta of 0.67. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The firm's 50 day simple moving average is $285.74 and its two-hundred day simple moving average is $276.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts' consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to analysts' expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business earned $4.95 earnings per share. As a group, sell-side analysts forecast that Chubb Limited will post 21.82 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, December 13th. Chubb's dividend payout ratio (DPR) is 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.