Teacher Retirement System of Texas Sells 16,161 Shares of Chubb Limited (NYSE:CB)

Teacher Retirement System of Texas trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 23.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,807 shares of the financial services provider’s stock after selling 16,161 shares during the period. Teacher Retirement System of Texas’ holdings in Chubb were worth $14,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. Raymond James Financial Inc. bought a new position in Chubb during the 4th quarter worth about $1,158,897,000. FMR LLC grew its holdings in Chubb by 7.3% during the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after acquiring an additional 1,052,999 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Chubb by 41,494.7% during the 4th quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock worth $224,566,000 after acquiring an additional 810,807 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after acquiring an additional 389,343 shares in the last quarter. Finally, Barclays PLC grew its holdings in Chubb by 28.1% during 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. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CB shares. Wells Fargo & Company dropped their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a report on Friday, January 31st. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a report on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a report on Wednesday, January 29th. Finally, Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $301.00.

Insiders Place Their Bets

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This trade represents a 33.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph F. Wayland sold 12,231 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the sale, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. The trade was a 13.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is owned by insiders.

Chubb Stock Performance

Shares of Chubb stock opened at $291.08 on Friday. The firm has a market capitalization of $116.55 billion, a P/E ratio of 12.81, a PEG ratio of 3.36 and a beta of 0.66. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $276.57 and a 200 day moving average price of $281.30. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05.

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

Chubb Announces Dividend

The firm 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 dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s dividend payout ratio is presently 16.02%.

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.