Cornerstone Advisors LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

Cornerstone Advisors LLC lifted its holdings in Chubb Limited (NYSE:CB) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 20,900 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the period. Cornerstone Advisors LLC’s holdings in Chubb were worth $6,027,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Chubb by 28,885.3% during the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after purchasing an additional 931,841 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after buying an additional 457,881 shares in the last quarter. Troy Asset Management Ltd purchased a new position in shares of Chubb during the second quarter valued at about $106,975,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in Chubb during the 2nd quarter valued at approximately $93,411,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 6,599 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the transaction, the executive vice president now directly owns 84,101 shares of the company’s stock, valued at $24,142,033.06. This represents a 7.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,715 shares of company stock worth $23,803,540. Company insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CB. Morgan Stanley lifted their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank of America raised their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Piper Sandler raised their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Trading Down 0.4 %

Shares of Chubb stock opened at $282.81 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $114.00 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 6.71 and a beta of 0.67. The stock has a 50 day moving average of $287.60 and a 200 day moving average of $273.95. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping the consensus estimate of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $4.95 earnings per share. As a group, research analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Company Profile

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.