State of New Jersey Common Pension Fund D Cuts Stock Position in Chubb Limited (NYSE:CB)

State of New Jersey Common Pension Fund D trimmed its position in Chubb Limited (NYSE:CB) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,845 shares of the financial services provider’s stock after selling 5,283 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Chubb were worth $41,772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Capital Management LLC increased its stake in shares of Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 42 shares during the period. Pathway Financial Advisers LLC purchased a new stake in Chubb in the 1st quarter valued at approximately $25,000. Kozak & Associates Inc. acquired a new position in Chubb during the 3rd quarter worth approximately $29,000. Chilton Capital Management LLC purchased a new position in shares of Chubb during the 2nd quarter worth approximately $26,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Chubb in the 2nd quarter valued at approximately $32,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CB has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler raised their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Jefferies Financial Group upped their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America lifted their price target on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $287.37.

Chubb Trading Up 1.2 %

Shares of Chubb stock traded up $3.37 during mid-day trading on Friday, hitting $281.36. 1,062,333 shares of the stock were exchanged, compared to its average volume of 1,415,326. The stock has a market capitalization of $113.42 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 6.57 and a beta of 0.67. Chubb Limited has a twelve month low of $216.26 and a twelve month high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $288.13 and a 200 day simple moving average of $271.88.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. Chubb’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.95 earnings per share. Research analysts forecast that Chubb Limited will post 21.64 EPS for the current year.

Insider Activity

In related news, Director Michael G. Atieh sold 261 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares in the company, valued at $11,261,558.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 over the last quarter. Company insiders own 0.86% of the company’s stock.

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.