Moors & Cabot Inc. Raises Stock Position in Chubb Limited (NYSE:CB)

Moors & Cabot Inc. boosted its position in shares of Chubb Limited (NYSE:CB) by 7.7% during the third quarter, Holdings Channel.com reports. The firm owned 11,825 shares of the financial services provider’s stock after buying an additional 845 shares during the quarter. Moors & Cabot Inc.’s holdings in Chubb were worth $3,410,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CB. Pathway Financial Advisers LLC purchased a new stake in Chubb in the 1st quarter valued at $25,000. Beacon Capital Management LLC lifted its holdings in Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Chilton Capital Management LLC purchased a new position in Chubb in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in Chubb in the 2nd quarter valued at about $28,000. Finally, Kozak & Associates Inc. purchased a new position in shares of Chubb during the 3rd quarter worth about $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE CB opened at $282.81 on Thursday. The stock has a market capitalization of $114.00 billion, a P/E ratio of 11.58, a P/E/G ratio of 6.71 and a beta of 0.67. 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 1 year low of $216.90 and a 1 year high of $302.05. The company’s 50-day moving average is $287.60 and its 200 day moving average is $273.95.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share 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 company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter in the prior year, the firm earned $4.95 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Chubb Limited will post 21.77 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CB. Morgan Stanley increased their price objective on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Piper Sandler increased their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Roth Mkm raised their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America lifted their price objective on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $287.37.

Insider Buying and Selling at Chubb

In related news, EVP Joseph F. Wayland sold 6,599 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the sale, the executive vice president now directly owns 84,101 shares of the company’s stock, valued at approximately $24,142,033.06. This represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,715 shares of company stock worth $23,803,540. Insiders own 0.86% of the company’s stock.

Chubb Company 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.