Heritage Wealth Management Inc. Decreases Stock Holdings in Chubb Limited (NYSE:CB)

Heritage Wealth Management Inc. decreased its holdings in Chubb Limited (NYSE:CB) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,701 shares of the financial services provider’s stock after selling 256 shares during the quarter. Chubb accounts for about 1.3% of Heritage Wealth Management Inc.’s holdings, making the stock its 11th biggest holding. Heritage Wealth Management Inc.’s holdings in Chubb were worth $3,951,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new position in shares of Chubb during the first quarter worth $25,000. Beacon Capital Management LLC raised its holdings in Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Chilton Capital Management LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Chubb in the 2nd quarter valued at $28,000. Finally, Kozak & Associates Inc. purchased a new stake in Chubb in the third quarter valued at $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

Chubb stock traded up $1.76 during mid-day trading on Friday, hitting $279.75. 77,360 shares of the company were exchanged, compared to its average volume of 1,604,470. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 12-month low of $216.26 and a 12-month high of $302.05. The business’s 50 day simple moving average is $288.26 and its two-hundred day simple moving average is $271.47. The company has a market capitalization of $112.77 billion, a P/E ratio of 11.38, a PEG ratio of 6.49 and a beta of 0.67.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the previous year, the firm posted $4.95 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Chubb Limited will post 21.6 earnings per share for the current fiscal year.

Insider Activity at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value 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 $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the company’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 sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CB shares. Barclays assumed coverage on Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target on the stock. Evercore ISI upped their target price on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Roth Mkm boosted their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their target price on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Piper Sandler upped their price objective on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $287.37.

Chubb 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.