Drive Wealth Management LLC Raises Holdings in Chubb Limited (NYSE:CB)

Drive Wealth Management LLC raised its holdings in Chubb Limited (NYSE:CB) by 4.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,238 shares of the financial services provider’s stock after purchasing an additional 55 shares during the quarter. Drive Wealth Management LLC’s holdings in Chubb were worth $358,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CB. Capital World Investors increased its position in shares of Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Chubb by 44.4% in the first 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 in the last quarter. Ameriprise Financial Inc. increased its stake in Chubb by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after buying an additional 63,891 shares during the period. Legal & General Group Plc boosted its position in Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after buying an additional 104,986 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after acquiring an additional 457,881 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $288.66 on Tuesday. The stock has a market capitalization of $116.36 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 6.71 and a beta of 0.67. The firm’s fifty day simple moving average is $287.77 and its 200-day simple moving average is $273.64. 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 12 month low of $216.90 and a 12 month high of $302.05.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The business 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 business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.95 earnings per share. As a group, equities analysts forecast that Chubb Limited will post 21.77 earnings per share for the current year.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 15,000 shares of Chubb 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 of the company’s stock, valued at $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,715 shares of company stock worth $23,803,540. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CB. Royal Bank of Canada lifted their target price on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays started coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. Roth Mkm lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Piper Sandler raised their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.