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

Oppenheimer & Co. Inc. reduced its stake in shares of Chubb Limited (NYSE:CB) by 18.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

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

Chubb Stock Performance

Shares of Chubb stock opened at $286.90 on Friday. The stock has a market cap of $115.65 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 6.64 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1 year low of $216.26 and a 1 year high of $302.05. The firm’s 50-day moving average is $287.84 and its 200 day moving average is $272.67.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same quarter in the prior year, the company posted $4.95 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Chubb Limited will post 21.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The trade was a 5.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 6,599 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the transaction, the executive vice president now directly owns 84,101 shares of the company’s stock, valued at $24,142,033.06. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,636 shares of company stock valued at $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CB. JPMorgan Chase & Co. increased their price objective on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Roth Mkm raised their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley raised their price objective on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $287.37.

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.