Prospera Financial Services Inc Raises Stake in Chubb Limited (NYSE:CB)

Prospera Financial Services Inc lifted its stake in Chubb Limited (NYSE:CB) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,937 shares of the financial services provider’s stock after purchasing an additional 1,850 shares during the period. Prospera Financial Services Inc’s holdings in Chubb were worth $4,308,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CB. Wellington Shields & Co. LLC purchased a new position in shares of Chubb during the first quarter worth approximately $94,000. Edgestream Partners L.P. purchased a new position in Chubb during the 1st quarter worth $984,000. Bessemer Group Inc. raised its position in Chubb by 56.5% during the 1st quarter. Bessemer Group Inc. now owns 36,128 shares of the financial services provider’s stock valued at $9,362,000 after purchasing an additional 13,036 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Chubb by 38.5% in the 1st quarter. Lake Street Advisors Group LLC now owns 3,494 shares of the financial services provider’s stock worth $908,000 after buying an additional 971 shares during the period. Finally, Pitcairn Co. grew its position in shares of Chubb by 133.2% during the 1st quarter. Pitcairn Co. now owns 4,979 shares of the financial services provider’s stock worth $1,290,000 after buying an additional 2,844 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In other news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,715 shares of company stock valued at $23,803,540. Company insiders own 0.86% of the company’s stock.

Chubb Trading Down 1.7 %

Shares of Chubb stock opened at $283.95 on Wednesday. The firm’s 50 day simple moving average is $287.63 and its two-hundred day simple moving average is $273.89. The firm has a market capitalization of $114.46 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 6.71 and a beta of 0.67. Chubb Limited has a 12-month low of $216.90 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.

Chubb (NYSE:CB) last released its earnings results 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. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the prior year, the firm earned $4.95 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Chubb Limited will post 21.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group lifted their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI upped their price target on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities lifted their price objective on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. 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, Keefe, Bruyette & Woods lifted their price target on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $287.37.

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.