Lakeview Capital Partners LLC purchased a new position in Chubb Ltd (NYSE:CB) in the third quarter, HoldingsChannel.com reports. The firm purchased 1,291 shares of the financial services provider’s stock, valued at approximately $208,000.
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A number of other institutional investors and hedge funds also recently modified their holdings of CB. Nuveen Asset Management LLC grew its holdings in Chubb by 37,306.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,848,945 shares of the financial services provider’s stock valued at $714,201,000 after buying an additional 4,835,982 shares in the last quarter. WCM Investment Management LLC lifted its position in Chubb by 10.7% during the 3rd quarter. WCM Investment Management LLC now owns 16,091,448 shares of the financial services provider’s stock worth $2,597,802,000 after acquiring an additional 1,558,674 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Chubb by 84.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,848,447 shares of the financial services provider’s stock worth $419,548,000 after purchasing an additional 1,304,154 shares during the period. California Public Employees Retirement System raised its holdings in Chubb by 24.1% in the 2nd quarter. California Public Employees Retirement System now owns 3,347,877 shares of the financial services provider’s stock worth $493,109,000 after purchasing an additional 650,643 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in Chubb by 3,862.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 552,620 shares of the financial services provider’s stock worth $89,214,000 after purchasing an additional 538,672 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.
Shares of CB stock traded down $1.41 during trading hours on Friday, reaching $151.51. The company had a trading volume of 1,105,233 shares, compared to its average volume of 1,547,209. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a fifty day moving average of $154.82 and a 200-day moving average of $151.49. The company has a market capitalization of $67.45 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.44 and a beta of 0.68. Chubb Ltd has a 12-month low of $119.54 and a 12-month high of $162.44.
Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.06. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.82 billion. Chubb had a return on equity of 8.60% and a net margin of 10.48%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.41 earnings per share. On average, analysts forecast that Chubb Ltd will post 10.36 EPS for the current year.
In related news, EVP Timothy Alan Boroughs sold 14,060 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $151.28, for a total value of $2,126,996.80. Following the completion of the transaction, the executive vice president now directly owns 185,375 shares in the company, valued at $28,043,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 6,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $158.05, for a total value of $1,027,325.00. Following the completion of the transaction, the executive vice president now owns 77,201 shares of the company’s stock, valued at $12,201,618.05. The disclosure for this sale can be found here. Insiders sold 26,560 shares of company stock valued at $4,103,222 over the last quarter. 0.47% of the stock is currently owned by company insiders.
CB has been the subject of a number of analyst reports. Wells Fargo & Co upped their price target on Chubb from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. ValuEngine lowered Chubb from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group upped their price target on Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Morgan Stanley upped their price target on Chubb from $154.00 to $163.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, William Blair restated an “underperform” rating on shares of Chubb in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $158.73.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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