Public Employees Retirement Association of Colorado raised its holdings in Chubb Ltd (NYSE:CB) by 688.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 668,381 shares of the financial services provider’s stock after acquiring an additional 583,559 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.15% of Chubb worth $107,903,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Nuveen Asset Management LLC increased its holdings in shares of Chubb by 37,306.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,848,945 shares of the financial services provider’s stock worth $714,201,000 after buying an additional 4,835,982 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Chubb by 10.7% during the 3rd quarter. WCM Investment Management LLC now owns 16,091,448 shares of the financial services provider’s stock worth $2,597,802,000 after buying an additional 1,558,674 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Chubb by 84.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,848,447 shares of the financial services provider’s stock worth $419,548,000 after buying an additional 1,304,154 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Chubb by 24.1% during the 2nd quarter. California Public Employees Retirement System now owns 3,347,877 shares of the financial services provider’s stock worth $493,109,000 after buying an additional 650,643 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Chubb by 3,862.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 552,620 shares of the financial services provider’s stock worth $89,214,000 after buying an additional 538,672 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.
In related news, EVP Timothy Alan Boroughs sold 14,060 shares of Chubb stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $151.28, for a total transaction of $2,126,996.80. Following the sale, the executive vice president now directly owns 185,375 shares in the company, valued at approximately $28,043,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 6,000 shares of Chubb stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $158.15, for a total transaction of $948,900.00. Following the sale, the insider now owns 168,037 shares in the company, valued at $26,575,051.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,560 shares of company stock valued at $4,103,222. Corporate insiders own 0.47% of the company’s stock.
Shares of Chubb stock traded down $1.41 during trading on Friday, hitting $151.51. 1,105,233 shares of the stock were exchanged, compared to its average volume of 1,547,209. The stock has a market cap of $67.45 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.44 and a beta of 0.68. The firm’s 50-day moving average price is $154.82 and its 200 day moving average price is $151.49. Chubb Ltd has a 12-month low of $119.54 and a 12-month high of $162.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.
Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.06. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Chubb had a net margin of 10.48% and a return on equity of 8.60%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.41 EPS. As a group, research analysts forecast that Chubb Ltd will post 10.36 earnings per share for the current year.
A number of brokerages have recently issued reports on CB. Wells Fargo & Co raised their price target on shares of Chubb from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Credit Suisse Group raised shares of Chubb from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from $145.00 to $165.00 in a research report on Tuesday, November 5th. JMP Securities reaffirmed an “outperform” rating on shares of Chubb in a research report on Thursday, July 25th. Evercore ISI initiated coverage on shares of Chubb in a research report on Thursday, October 17th. They set an “in-line” rating and a $149.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Chubb from $154.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $158.73.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
See Also: What are Bollinger Bands?
Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Ltd (NYSE:CB).
Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.