Chubb Limited (NYSE:CB) Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc grew its position in Chubb Limited (NYSE:CB) by 14.1% in the third quarter, HoldingsChannel reports. The fund owned 14,937 shares of the financial services provider’s stock after acquiring an additional 1,850 shares during the quarter. Prospera Financial Services Inc’s holdings in Chubb were worth $4,308,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital World Investors grew its stake in Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares during the period. Capital Research Global Investors lifted its holdings in Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc increased its stake in shares of Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. The trade was a 4.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,715 shares of company stock worth $23,803,540. 0.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. Barclays assumed coverage on Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective for the company. Piper Sandler boosted their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Evercore ISI increased their target price on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Two investment 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 company. According to data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus price target of $287.37.

Chubb Price Performance

CB stock opened at $283.95 on Wednesday. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05. The business has a fifty day moving average of $287.63 and a two-hundred day moving average of $273.89. The stock has a market cap of $114.46 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 6.71 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) 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 analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. Chubb’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.95 EPS. As a group, research analysts anticipate that Chubb Limited will post 21.77 earnings per share for the current year.

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.