Oppenheimer & Co. Inc. Sells 4,838 Shares of Chubb Limited (NYSE:CB)

Oppenheimer & Co. Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,756 shares of the financial services provider’s stock after selling 4,838 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Chubb were worth $6,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in shares of Chubb by 0.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after buying an additional 40 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its holdings in Chubb by 1.9% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 40 shares in the last quarter. LVW Advisors LLC lifted its holdings in Chubb by 0.3% during the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock valued at $3,390,000 after purchasing an additional 40 shares in the last quarter. Wealth Effects LLC boosted its position in shares of Chubb by 3.0% in the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 40 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of Chubb by 1.1% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,706 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 40 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chubb news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JMP Securities upped their price objective on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their target price on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Roth Mkm upped their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $287.37.

Chubb Trading Up 1.2 %

CB opened at $286.90 on Friday. Chubb Limited has a 12 month low of $216.26 and a 12 month high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $287.84 and a 200 day moving average of $272.67. The firm has a market cap of $115.65 billion, a P/E ratio of 11.75, a P/E/G ratio of 6.64 and a beta of 0.67.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating 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 company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.95 EPS. As a group, research analysts forecast that Chubb Limited will post 21.64 EPS for the current year.

Chubb Profile

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.