State of Michigan Retirement System Reduces Holdings in Chubb Limited (NYSE:CB)

State of Michigan Retirement System reduced its stake in Chubb Limited (NYSE:CB) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,787 shares of the financial services provider’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in Chubb were worth $28,124,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC grew its holdings in Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after buying an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Chubb in the 3rd quarter valued at $29,000. Raelipskie Partnership purchased a new stake in Chubb in the 3rd quarter valued at $29,000. Sierra Ocean LLC purchased a new stake in Chubb in the 4th quarter valued at $29,000. Finally, Truvestments Capital LLC purchased a new stake in Chubb in the 3rd quarter valued at $30,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

CB opened at $289.66 on Tuesday. The stock’s 50-day moving average price is $271.30 and its 200 day moving average price is $279.99. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market cap of $116.76 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 3.36 and a beta of 0.67.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CB shares. Barclays dropped their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. Wells Fargo & Company decreased their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of Chubb in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $295.73.

Chubb Company Profile

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.