Chubb Limited $CB Stock: Eurizon Capital SGR S.p.A. Trims Stake

Eurizon Capital SGR S.p.A. lessened its position in shares of Chubb Limited (NYSE:CB) by 45.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 80,590 shares of the financial services provider’s stock after selling 67,823 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Chubb were worth $26,305,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CB. XXEC Inc. bought a new position in Chubb during the second quarter valued at $228,226,000. Berkshire Hathaway Inc purchased a new stake in shares of Chubb during the 2nd quarter valued at about $11,670,067,000. BlackRock Inc. bought a new position in shares of Chubb in the 2nd quarter valued at about $9,913,336,000. GQG Partners LLC purchased a new position in Chubb in the second quarter worth about $4,250,113,000. Finally, Bank of America Corp DE grew its position in Chubb by 3.1% in the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after acquiring an additional 147,876 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. JPMorgan Chase & Co. boosted their target price on Chubb from $371.00 to $374.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Deutsche Bank reiterated a “hold” rating and issued a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Citizens Jmp restated a “market outperform” rating and set a $400.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $333.00 target price on shares of Chubb in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $362.78.

Insiders Place Their Bets

In other news, EVP Timothy Boroughs sold 13,596 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the completion of the sale, the executive vice president owned 5,588 shares in the company, valued at $1,993,630.76. This trade represents a 70.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Connors sold 5,500 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders have sold 32,985 shares of company stock valued at $11,748,463 over the last ninety days. Company insiders own 0.37% of the company’s stock.

Chubb Trading Up 1.0%

NYSE CB opened at $375.34 on Friday. The company has a market capitalization of $143.41 billion, a PE ratio of 13.13, a P/E/G ratio of 1.72 and a beta of 0.29. The company has a fifty day moving average of $348.93 and a 200 day moving average of $337.20. Chubb Limited has a 1 year low of $291.03 and a 1 year high of $384.26. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.89. The business had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter last year, the business earned $7.49 earnings per share. Research analysts forecast that Chubb Limited will post 28.89 earnings per share for the current year.

Chubb Company 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.