Kentucky Retirement Systems Sells 4,429 Shares of Chubb Limited (NYSE:CB)

Kentucky Retirement Systems decreased its stake in Chubb Limited (NYSE:CB) by 14.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,170 shares of the financial services provider’s stock after selling 4,429 shares during the quarter. Kentucky Retirement Systems’ holdings in Chubb were worth $7,547,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CB. Pathway Financial Advisers LLC purchased a new position in Chubb in the 1st quarter worth approximately $25,000. Beacon Capital Management LLC lifted its holdings in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Chilton Capital Management LLC purchased a new position in Chubb during the second quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new position in Chubb during the second quarter valued at $28,000. Finally, Kozak & Associates Inc. purchased a new stake in Chubb in the 3rd quarter worth $29,000. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock opened at $288.00 on Friday. The firm has a market cap of $116.09 billion, a PE ratio of 11.79, a P/E/G ratio of 6.64 and a beta of 0.67. The business has a 50-day moving average price of $287.84 and a 200 day moving average price of $273.04. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the previous year, the business earned $4.95 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Chubb Limited will post 21.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. JPMorgan Chase & Co. increased their target price on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Bank of America boosted their target price on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $287.37.

Insider Buying and Selling

In other news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is owned by corporate insiders.

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.