Concurrent Investment Advisors LLC Trims Stake in Chubb Limited (NYSE:CB)

Concurrent Investment Advisors LLC lessened its position in Chubb Limited (NYSE:CB) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,578 shares of the financial services provider’s stock after selling 289 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Chubb were worth $4,781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Capital World Investors lifted its position in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after buying an additional 685,677 shares during the period. Capital Research Global Investors increased its stake in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Chubb by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after acquiring an additional 63,891 shares during the period. Legal & General Group Plc boosted its stake in Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after acquiring an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in 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 purchasing an additional 457,881 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock valued at $24,874,208 in the last quarter. 0.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CB. Bank of America boosted their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. JMP Securities increased their target price on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price target on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI raised their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $287.37.

Chubb Price Performance

Shares of CB opened at $280.02 on Thursday. The firm has a fifty day simple moving average of $288.26 and a two-hundred day simple moving average of $271.47. The firm has a market cap of $112.88 billion, a PE ratio of 11.47, a P/E/G ratio of 6.52 and a beta of 0.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1-year low of $216.26 and a 1-year high of $302.05.

Chubb (NYSE:CB) last issued its quarterly earnings data 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. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.95 earnings per share. On average, equities analysts anticipate that Chubb Limited will post 21.6 EPS for the current year.

About Chubb

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.