Chubb Limited $CB Stock: Eurizon Capital SGR S.p.A. Decreases Stake

Eurizon Capital SGR S.p.A. trimmed its holdings in Chubb Limited (NYSE:CB) by 45.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,590 shares of the financial services provider’s stock after selling 67,823 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Chubb were worth $26,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. XXEC Inc. bought a new position in Chubb during the 2nd quarter valued at $228,226,000. Berkshire Hathaway Inc purchased a new position in Chubb during the second quarter worth about $11,670,067,000. BlackRock Inc. bought a new position in shares of Chubb during the 2nd quarter worth approximately $9,913,336,000. GQG Partners LLC purchased a new position in shares of Chubb in the 2nd quarter worth approximately $4,250,113,000. Finally, Bank of America Corp DE bought a new position in shares of Chubb in the second quarter valued at approximately $1,545,084,000. 83.81% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Michael Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 13,889 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the completion of the transaction, the chief executive officer owned 277,274 shares of the company’s stock, valued at approximately $99,824,185.48. The trade was a 4.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,985 shares of company stock worth $11,748,463. Insiders own 0.37% of the company’s stock.

Chubb Stock Up 1.0%

CB opened at $375.34 on Friday. Chubb Limited has a 12 month low of $291.03 and a 12 month high of $384.26. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $348.93 and its 200-day moving average price is $337.20. The company has a market cap of $143.41 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.72 and a beta of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, beating the consensus estimate of $6.77 by $0.89. The firm had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same period in the prior year, the firm posted $7.49 earnings per share. On average, equities analysts expect that Chubb Limited will post 28.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CB shares. Weiss Ratings upgraded Chubb from a “buy (b)” rating to a “buy (a)” rating in a research note on Friday, October 16th. Mizuho lifted their price objective 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. TD Cowen increased their target price on shares of Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. Deutsche Bank reissued a “hold” rating and set a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Finally, UBS Group reissued a “neutral” rating and issued a $380.00 target price on shares of Chubb in a research report on Monday, October 26th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $362.78.

About Chubb

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.