Northwestern Mutual Wealth Management Co. raised its holdings in Chubb Ltd (NYSE:CB) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,250 shares of the financial services provider’s stock after buying an additional 859 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Chubb were worth $1,771,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Atlantic Trust LLC acquired a new position in shares of Chubb in the 2nd quarter valued at about $102,000. ELM Advisors LLC acquired a new position in shares of Chubb in the 3rd quarter valued at about $103,000. Legacy Advisors LLC lifted its stake in shares of Chubb by 1,612.0% in the 3rd quarter. Legacy Advisors LLC now owns 856 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 806 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Chubb in the 2nd quarter valued at about $127,000. Finally, Edge Wealth Management LLC acquired a new position in shares of Chubb in the 2nd quarter valued at about $133,000. Institutional investors own 85.89% of the company’s stock.
In other Chubb news, insider Timothy Alan Boroughs sold 14,971 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $139.37, for a total value of $2,086,508.27. Following the transaction, the insider now directly owns 202,794 shares of the company’s stock, valued at approximately $28,263,399.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 227,994 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total value of $31,985,278.26. Following the completion of the transaction, the chief executive officer now directly owns 1,583,326 shares in the company, valued at $222,124,804.54. The disclosure for this sale can be found here. Insiders have sold a total of 242,967 shares of company stock worth $34,072,088 over the last three months. 0.44% of the stock is currently owned by corporate insiders.
Several equities analysts have recently weighed in on the company. Deutsche Bank lowered Chubb from a “hold” rating to a “sell” rating and reduced their price objective for the company from $135.00 to $126.00 in a research note on Monday, August 13th. ValuEngine raised Chubb from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Citigroup lifted their price objective on Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $169.00 price objective on shares of Chubb in a research note on Tuesday, July 24th. Finally, Credit Suisse Group assumed coverage on Chubb in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $158.56.
Chubb stock opened at $131.17 on Friday. The company has a market cap of $60.68 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.32 and a beta of 1.02. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. Chubb Ltd has a one year low of $120.50 and a one year high of $157.50.
Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.39 by $0.02. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.63 billion. Chubb had a return on equity of 9.71% and a net margin of 15.37%. Chubb’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) EPS. Sell-side analysts expect that Chubb Ltd will post 9.97 EPS for the current year.
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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