14,297 Chubb Limited $CB Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its holdings in Chubb Limited (NYSE:CB) by 8.5% in the third quarter, Holdings Channel.com reports. The fund owned 153,051 shares of the financial services provider’s stock after selling 14,297 shares during the quarter. Fifth Third Bancorp’s holdings in Chubb were worth $49,780,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. XXEC Inc. acquired a new position in shares of Chubb during the 2nd quarter worth $228,226,000. Berkshire Hathaway Inc purchased a new position in shares of Chubb in the 2nd quarter valued at about $11,670,067,000. BlackRock Inc. acquired a new stake in shares of Chubb in the second quarter valued at about $9,913,336,000. GQG Partners LLC acquired a new stake in shares of Chubb in the second quarter valued at about $4,250,113,000. Finally, Bank of America Corp DE acquired a new stake in shares of Chubb in the second quarter valued at about $1,545,084,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CB has been the topic of a number of research analyst reports. Mizuho boosted their price objective on shares of Chubb from $336.00 to $350.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Citigroup reaffirmed a “buy” rating and issued a $405.00 target price (up from $395.00) on shares of Chubb in a report on Wednesday, October 21st. Weiss Ratings upgraded shares of Chubb from a “buy (b)” rating to a “buy (a)” rating in a research report on Friday, October 16th. TD Cowen lifted their price target on shares of Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. Finally, Deutsche Bank reissued a “hold” rating and set a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $362.78.

Insider Activity at Chubb

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Evan Greenberg sold 13,889 shares of Chubb stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the transaction, the chief executive officer owned 277,274 shares of the company’s stock, valued at approximately $99,824,185.48. The trade was a 4.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 32,985 shares of company stock valued at $11,748,463. Insiders own 0.37% of the company’s stock.

Chubb Stock Up 0.5%

Chubb stock opened at $372.25 on Friday. Chubb Limited has a fifty-two week low of $291.03 and a fifty-two week high of $384.26. The firm has a market capitalization of $142.23 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.71 and a beta of 0.29. The stock’s fifty day moving average is $348.39 and its two-hundred day moving average is $336.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.89. The business had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same quarter in the previous year, the company posted $7.49 EPS. Analysts predict that Chubb Limited will post 28.89 EPS for the current fiscal year.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions. The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.