QCI Asset Management Inc. NY boosted its holdings in Chubb Ltd (NYSE:CB) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,174 shares of the financial services provider’s stock after purchasing an additional 1,670 shares during the period. QCI Asset Management Inc. NY’s holdings in Chubb were worth $13,922,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CB. State of Alaska Department of Revenue grew its holdings in shares of Chubb by 17.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 68,374 shares of the financial services provider’s stock worth $8,683,000 after acquiring an additional 10,059 shares during the period. Stokes Capital Advisors LLC grew its holdings in shares of Chubb by 7.3% in the 2nd quarter. Stokes Capital Advisors LLC now owns 17,888 shares of the financial services provider’s stock worth $2,272,000 after acquiring an additional 1,218 shares during the period. Atria Investments LLC grew its holdings in shares of Chubb by 9.9% in the 2nd quarter. Atria Investments LLC now owns 11,551 shares of the financial services provider’s stock worth $1,467,000 after acquiring an additional 1,043 shares during the period. Mcrae Capital Management Inc. grew its holdings in shares of Chubb by 8.5% in the 2nd quarter. Mcrae Capital Management Inc. now owns 5,744 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 450 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Chubb in the 2nd quarter worth approximately $231,000. 85.89% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on CB shares. Citigroup upped their price target on Chubb from $151.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, July 30th. Wells Fargo & Co restated a “buy” rating and issued a $169.00 price target on shares of Chubb in a report on Tuesday, July 24th. Zacks Investment Research upgraded Chubb from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. ValuEngine upgraded Chubb from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Credit Suisse Group started coverage on Chubb in a report on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $158.56.
Shares of NYSE:CB opened at $131.17 on Friday. The firm has a market cap of $60.68 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Ltd has a one year low of $120.50 and a one year high of $157.50.
Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.02. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.63 billion. Chubb had a return on equity of 9.71% and a net margin of 15.37%. Chubb’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.13) EPS. As a group, equities research analysts forecast that Chubb Ltd will post 9.97 earnings per share for the current year.
In other Chubb news, insider Timothy Alan Boroughs sold 14,971 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $139.37, for a total transaction of $2,086,508.27. Following the sale, the insider now owns 202,794 shares in the company, valued at approximately $28,263,399.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Evan G. Greenberg sold 227,994 shares of the stock in a transaction 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 sale, the chief executive officer now owns 1,583,326 shares in the company, valued at approximately $222,124,804.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,967 shares of company stock worth $34,072,088. 0.44% of the stock is owned by insiders.
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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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