Kentucky Retirement Systems Insurance Trust Fund Sells 1,975 Shares of Chubb Limited (NYSE:CB)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of Chubb Limited (NYSE:CB) by 15.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,122 shares of the financial services provider’s stock after selling 1,975 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Chubb were worth $3,207,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Capital Research Global Investors grew its position in Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. International Assets Investment Management LLC increased its holdings in Chubb by 28,885.3% during the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after buying an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Chubb by 4,559.3% in the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares during the last quarter. Capital World Investors lifted its position in shares of Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after buying an additional 685,677 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the period. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $288.00 on Friday. The stock’s 50-day simple moving average is $287.84 and its 200-day simple moving average is $273.04. The firm has a market capitalization of $116.09 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 6.64 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 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 analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $4.95 earnings per share. As a group, equities analysts forecast that Chubb Limited will post 21.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CB. Keefe, Bruyette & Woods raised 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. Evercore ISI raised their target price on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus target price of $287.37.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This represents a 5.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 6,599 shares of Chubb stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the completion of the sale, the executive vice president now owns 84,101 shares in the company, valued at approximately $24,142,033.06. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock worth $24,874,208 over the last three months. Company insiders own 0.86% of the company’s stock.

Chubb 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.