Chubb Ltd (CB) Shares Bought by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund boosted its stake in Chubb Ltd (NYSE:CB) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,012 shares of the financial services provider’s stock after purchasing an additional 998 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Chubb were worth $6,480,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Clarus Wealth Advisors purchased a new position in shares of Chubb during the 2nd quarter valued at $113,000. FNY Investment Advisers LLC purchased a new position in shares of Chubb during the 2nd quarter valued at $127,000. Edge Wealth Management LLC purchased a new position in shares of Chubb during the 2nd quarter valued at $133,000. Fairfield Bush & CO. purchased a new position in shares of Chubb during the 1st quarter valued at $137,000. Finally, Adviser Investments LLC purchased a new position in shares of Chubb during the 1st quarter valued at $140,000. 85.80% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on CB. Barclays decreased their price target on shares of Chubb from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Credit Suisse Group began coverage on shares of Chubb in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 price target on the stock. Wells Fargo & Co reiterated a “buy” rating and issued a $169.00 price target on shares of Chubb in a research note on Tuesday, July 24th. Zacks Investment Research cut shares of Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, Atlantic Securities upgraded shares of Chubb from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Chubb currently has a consensus rating of “Hold” and a consensus target price of $160.09.
Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.06. Chubb had a net margin of 11.53% and a return on equity of 7.41%. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.30 billion. During the same period in the previous year, the firm posted $2.50 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. equities analysts forecast that Chubb Ltd will post 10.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 21st will be issued a dividend of $0.73 per share. The ex-dividend date is Thursday, September 20th. This represents a $2.92 annualized dividend and a yield of 2.13%. Chubb’s payout ratio is 36.36%.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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