MAI Capital Management Sells 1,512 Shares of Chubb Limited (NYSE:CB)

MAI Capital Management decreased its position in Chubb Limited (NYSE:CB) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 147,306 shares of the financial services provider’s stock after selling 1,512 shares during the period. MAI Capital Management’s holdings in Chubb were worth $42,482,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in Chubb by 0.5% during the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock worth $1,917,000 after buying an additional 40 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its position in shares of Chubb by 1.9% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 40 shares during the period. LVW Advisors LLC increased its stake in shares of Chubb by 0.3% during the 3rd quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after purchasing an additional 40 shares during the last quarter. Wealth Effects LLC raised its holdings in shares of Chubb by 3.0% in the 3rd quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 40 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Chubb by 1.1% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,706 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CB shares. Wells Fargo & Company raised their target price on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI increased their target price 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 boosted their price target on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb presently has a consensus rating of “Hold” and an average target price of $287.37.

Chubb Stock Performance

Chubb stock opened at $288.00 on Monday. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The firm’s fifty day moving average price is $287.84 and its 200-day moving average price is $273.37. The stock has a market cap of $116.09 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 6.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping 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 return on equity of 15.46% and a net margin of 18.32%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.95 earnings per share. On average, equities research analysts expect that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 8.08 % 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 over the last quarter. 0.86% of the stock is owned by corporate insiders.

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.