CIBC Asset Management Inc Buys 142 Shares of Chubb Limited (NYSE:CB)

CIBC Asset Management Inc grew its holdings in shares of Chubb Limited (NYSE:CB) by 0.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 59,539 shares of the financial services provider’s stock after buying an additional 142 shares during the period. CIBC Asset Management Inc’s holdings in Chubb were worth $17,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pathway Financial Advisers LLC bought a new position in Chubb in the 1st quarter worth about $25,000. Beacon Capital Management LLC boosted its holdings in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Chubb in the 2nd quarter worth $26,000. Strategic Financial Concepts LLC bought a new position in shares of Chubb in the second quarter worth about $28,000. Finally, Kozak & Associates Inc. purchased a new position in shares of Chubb during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total value 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 $167,748,829.50. This represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 86,636 shares of company stock valued at $24,874,208. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CB. Evercore ISI boosted their target price on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, JMP Securities boosted their target price on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and an average price target of $287.37.

Chubb Stock Performance

NYSE:CB opened at $288.00 on Friday. The firm has a 50-day moving average price of $287.84 and a two-hundred day moving average price of $272.77. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The company has a market capitalization of $116.09 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 6.64 and a beta of 0.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings data 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. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period in the previous year, the company posted $4.95 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Chubb Limited will post 21.66 earnings per share for the current fiscal 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.