Chubb Limited $CB Position Lifted by Cornerstone Advisors LLC

Cornerstone Advisors LLC raised its stake in shares of Chubb Limited (NYSE:CB) by 91.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,213 shares of the financial services provider’s stock after purchasing an additional 18,221 shares during the quarter. Cornerstone Advisors LLC’s holdings in Chubb were worth $12,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. bought a new position in shares of Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in Chubb in the 2nd quarter valued at $25,000. Parvin Asset Management LLC bought a new stake in Chubb in the second quarter valued at $26,000. Highland Investment Advisors LLC bought a new stake in Chubb in the second quarter valued at $26,000. Finally, Frazier Financial Advisors LLC grew its position in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 38 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HSBC reissued a “hold” rating and set a $359.00 price objective on shares of Chubb in a report on Wednesday, October 7th. Wells Fargo & Company upped their target price on shares of Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. Mizuho increased their target price on shares of Chubb from $336.00 to $350.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Finally, UBS Group reissued a “neutral” rating and set a $380.00 price target on shares of Chubb in a report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $362.78.

Chubb Trading Up 1.0%

CB stock opened at $375.34 on Friday. The business has a fifty day moving average price of $348.93 and a 200 day moving average price of $337.20. Chubb Limited has a fifty-two week low of $291.03 and a fifty-two week high of $384.26. The stock has a market capitalization of $143.41 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.72 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same quarter in the previous year, the firm earned $7.49 earnings per share. Analysts expect that Chubb Limited will post 28.89 EPS for the current fiscal year.

Insider Transactions at Chubb

In other news, EVP Timothy Boroughs sold 13,596 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $356.77, for a total value of $4,850,644.92. Following the transaction, the executive vice president owned 5,588 shares of the company’s stock, valued at $1,993,630.76. This represents a 70.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan Greenberg sold 13,889 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $360.02, for a total value of $5,000,317.78. Following the transaction, the chief executive officer owned 277,274 shares in the company, valued at approximately $99,824,185.48. This trade represents a 4.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,985 shares of company stock worth $11,748,463 over the last 90 days. 0.37% of the stock is owned by insiders.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions. The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.