Platform Technology Partners Lowers Position in Chubb Limited (NYSE:CB)

Platform Technology Partners trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,018 shares of the financial services provider’s stock after selling 47 shares during the period. Platform Technology Partners’ holdings in Chubb were worth $2,601,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of Chubb in the second quarter worth approximately $963,000. Edgestream Partners L.P. bought a new position in shares of Chubb in the 1st quarter worth $984,000. Moloney Securities Asset Management LLC raised its position in shares of Chubb by 97.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock valued at $1,111,000 after buying an additional 1,905 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Chubb by 21.2% during the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock worth $3,279,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Raymond James & Associates grew its position in Chubb by 2.9% in the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after acquiring an additional 87,059 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the firm’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 completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 over the last 90 days. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CB. Barclays started coverage on Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Jefferies Financial Group boosted their target price on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upped their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JMP Securities lifted their price target on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler upped their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note 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 stock. Based on data from MarketBeat, Chubb presently has an average rating of “Hold” and a consensus target price of $287.37.

Chubb Price Performance

Shares of CB stock opened at $280.75 on Tuesday. 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 cap of $113.17 billion, a P/E ratio of 11.50, a P/E/G ratio of 6.60 and a beta of 0.67. The business’s 50 day moving average price is $288.06 and its 200-day moving average price is $272.33. Chubb Limited has a fifty-two week low of $216.26 and a fifty-two week high of $302.05.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the previous year, the firm earned $4.95 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Chubb Limited will post 21.64 earnings per share 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.