CIBC Asset Management Inc Boosts Position in Chubb Limited (NYSE:CB)

CIBC Asset Management Inc boosted its holdings in shares of Chubb Limited (NYSE:CB) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,539 shares of the financial services provider’s stock after acquiring an additional 142 shares during the quarter. CIBC Asset Management Inc’s holdings in Chubb were worth $17,170,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Capital Research Global Investors increased its position in shares of Chubb by 44.4% in the 1st 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 during the last quarter. International Assets Investment Management LLC increased its holdings in Chubb by 28,885.3% in the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after buying an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Chubb by 4,559.3% in the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares during the last quarter. Capital World Investors raised its position in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In other news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the sale, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 12.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $288.00 on Friday. 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 Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The firm has a market capitalization of $116.09 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 6.64 and a beta of 0.67. The firm has a fifty day simple moving average of $287.84 and a two-hundred day simple moving average of $272.77.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion during 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%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $4.95 EPS. Analysts forecast that Chubb Limited will post 21.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on CB. Bank of America increased their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Roth Mkm increased their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group boosted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus 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.