Principal Financial Group Inc. Sells 5,634 Shares of Chubb Limited (NYSE:CB)

Principal Financial Group Inc. decreased its holdings in shares of Chubb Limited (NYSE:CB) by 0.4% in the third quarter, Holdings Channel.com reports. The firm owned 1,395,884 shares of the financial services provider’s stock after selling 5,634 shares during the period. Principal Financial Group Inc.’s holdings in Chubb were worth $402,559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Central Pacific Bank Trust Division bought a new stake in shares of Chubb during the first quarter valued at approximately $147,000. GSA Capital Partners LLP purchased a new position in shares of Chubb during the 1st quarter worth $961,000. Wellington Shields & Co. LLC purchased a new position in shares of Chubb during the 1st quarter worth $94,000. Advisory Alpha LLC lifted its stake in shares of Chubb by 11.9% during the 1st quarter. Advisory Alpha LLC now owns 1,434 shares of the financial services provider’s stock valued at $372,000 after buying an additional 153 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Chubb by 3.9% during the 1st quarter. Manchester Capital Management LLC now owns 1,723 shares of the financial services provider’s stock valued at $446,000 after buying an additional 65 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CB shares. JMP Securities lifted their target price on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price target on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America boosted their price target on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $287.37.

Chubb Price Performance

Chubb stock opened at $280.02 on Thursday. The stock has a market cap of $112.88 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 6.52 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 has a 50-day moving average of $288.26 and a two-hundred day moving average of $271.47.

Chubb (NYSE:CB) last released 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 company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.95 EPS. On average, research analysts forecast that Chubb Limited will post 21.6 earnings per share for the current year.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 in the last three months. Company insiders own 0.86% of the company’s stock.

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.