PNC Financial Services Group Inc. Buys 7,462 Shares of Chubb Limited (NYSE:CB)

PNC Financial Services Group Inc. lifted its position in shares of Chubb Limited (NYSE:CB) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 925,622 shares of the financial services provider’s stock after purchasing an additional 7,462 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Chubb were worth $266,940,000 at the end of the most recent reporting period.

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

Chubb Trading Up 0.2 %

Shares of NYSE CB opened at $288.66 on Tuesday. The business’s 50 day moving average price is $287.77 and its 200-day moving average price is $273.64. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. 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 company has a market cap of $116.36 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 6.71 and a beta of 0.67.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.95 earnings per share. On average, sell-side analysts expect that Chubb Limited will post 21.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CB shares. Royal Bank of Canada raised their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley boosted their price objective on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. JMP Securities lifted their price objective on 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 raised their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $287.37.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,715 shares of company stock valued at $23,803,540 in the last 90 days. Company insiders own 0.86% of the company’s stock.

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.