Chubb Limited (NYSE:CB) Stake Lowered by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. decreased its stake in Chubb Limited (NYSE:CB) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,701 shares of the financial services provider’s stock after selling 256 shares during the period. Chubb accounts for 1.3% of Heritage Wealth Management Inc.’s portfolio, making the stock its 11th largest position. Heritage Wealth Management Inc.’s holdings in Chubb were worth $3,951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CB. ORG Partners LLC bought a new position in shares of Chubb during the second quarter worth about $963,000. Edgestream Partners L.P. bought a new stake in shares of Chubb during the first quarter valued at approximately $984,000. Moloney Securities Asset Management LLC boosted its position in shares of Chubb by 97.9% during the third quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 1,905 shares during the period. Private Advisor Group LLC grew its holdings in Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock worth $3,279,000 after buying an additional 2,250 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Chubb during the 1st quarter valued at $961,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CB. Barclays initiated coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Bank of America upped their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Piper Sandler upped their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $287.37.

Chubb Price Performance

Shares of NYSE CB traded up $1.76 during mid-day trading on Friday, hitting $279.75. 77,360 shares of the stock were exchanged, compared to its average volume of 1,604,470. The company has a market cap of $112.77 billion, a P/E ratio of 11.38, a PEG ratio of 6.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a twelve month low of $216.26 and a twelve month high of $302.05. The stock’s fifty day simple moving average is $288.26 and its two-hundred day simple moving average is $271.47.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.95 EPS. As a group, analysts forecast that Chubb Limited will post 21.6 EPS for the current fiscal year.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,636 shares of company stock valued at $24,874,208. Company insiders own 0.86% of the company’s stock.

About Chubb

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.