Chubb Limited $CB Stock Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC grew its position in Chubb Limited (NYSE:CB) by 91.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,213 shares of the financial services provider’s stock after acquiring an additional 18,221 shares during the period. Cornerstone Advisors LLC’s holdings in Chubb were worth $12,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in Chubb during the 2nd quarter worth $25,000. Dunhill Financial LLC bought a new position in Chubb during the second quarter worth about $25,000. Parvin Asset Management LLC bought a new position in Chubb during the second quarter worth about $26,000. Highland Investment Advisors LLC acquired a new position in Chubb in the second quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC grew its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CB shares. Wells Fargo & Company increased their price target on Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. Weiss Ratings upgraded Chubb from a “buy (b)” rating to a “buy (a)” rating in a report on Friday, October 16th. Keefe, Bruyette & Woods decreased their price objective on Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Citizens Jmp reissued a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Mizuho increased their target price on Chubb from $336.00 to $350.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $362.78.

Chubb Trading Up 1.0%

CB opened at $375.34 on Friday. The stock has a market capitalization of $143.41 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.72 and a beta of 0.29. Chubb Limited has a 12 month low of $291.03 and a 12 month high of $384.26. The firm’s fifty day simple moving average is $348.93 and its 200 day simple moving average is $337.20. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. The firm had revenue of $16.20 billion during 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 period in the prior year, the business earned $7.49 EPS. As a group, research analysts anticipate that Chubb Limited will post 28.89 EPS for the current fiscal year.

Insider Buying and Selling at Chubb

In other news, CEO Evan Greenberg sold 13,889 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 277,274 shares of the company’s stock, valued at $99,824,185.48. This represents a 4.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,985 shares of company stock valued at $11,748,463 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

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.