Massachusetts Financial Services Co. MA lessened its stake in Chubb Ltd (NYSE:CB) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 13,127,045 shares of the financial services provider’s stock after selling 223,188 shares during the period. Chubb makes up about 0.9% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 26th biggest holding. Massachusetts Financial Services Co. MA’s holdings in Chubb were worth $2,119,231,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC purchased a new position in shares of Chubb in the 3rd quarter valued at $26,000. JNBA Financial Advisors raised its stake in shares of Chubb by 223.2% in the 2nd quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 125 shares during the period. Mcmillion Capital Management Inc. purchased a new position in shares of Chubb in the 2nd quarter valued at $27,000. Liberty Wealth Management LLC raised its stake in shares of Chubb by 176.5% in the 3rd quarter. Liberty Wealth Management LLC now owns 188 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 120 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of Chubb in the 2nd quarter valued at $28,000. Institutional investors own 88.08% of the company’s stock.
In related news, insider John J. Lupica sold 6,000 shares of Chubb stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $158.15, for a total transaction of $948,900.00. Following the sale, the insider now owns 168,037 shares of the company’s stock, valued at approximately $26,575,051.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 14,060 shares of Chubb stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $151.28, for a total transaction of $2,126,996.80. Following the sale, the executive vice president now directly owns 185,375 shares in the company, valued at approximately $28,043,530. The disclosure for this sale can be found here. Insiders have sold a total of 26,560 shares of company stock worth $4,103,222 in the last ninety days. 0.47% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on CB shares. UBS Group raised their target price on shares of Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Evercore ISI started coverage on shares of Chubb in a research note on Thursday, October 17th. They issued an “in-line” rating and a $149.00 target price on the stock. Credit Suisse Group raised shares of Chubb from an “underperform” rating to an “outperform” rating and raised their target price for the company from $145.00 to $165.00 in a research note on Tuesday, November 5th. JMP Securities reissued an “outperform” rating on shares of Chubb in a research note on Thursday, July 25th. Finally, William Blair reissued an “underperform” rating on shares of Chubb in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $158.73.
Chubb stock traded down $0.19 during midday trading on Monday, hitting $151.32. 892,596 shares of the stock were exchanged, compared to its average volume of 1,544,427. Chubb Ltd has a 1 year low of $119.54 and a 1 year high of $162.44. The firm has a market cap of $67.45 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50 day moving average price of $154.82 and a two-hundred day moving average price of $151.49.
Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.06. Chubb had a net margin of 10.48% and a return on equity of 8.60%. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the firm posted $2.41 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that Chubb Ltd will post 10.36 EPS for the current year.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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