Plato Investment Management Ltd Makes New $1.97 Million Investment in Chubb Limited (NYSE:CB)

Plato Investment Management Ltd bought a new position in shares of Chubb Limited (NYSE:CB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,849 shares of the financial services provider’s stock, valued at approximately $1,973,000.

Several other hedge funds have also modified their holdings of CB. Wellington Shields & Co. LLC purchased a new stake in Chubb during the first quarter worth about $94,000. Kingsview Wealth Management LLC boosted its stake in shares of Chubb by 25.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 5,303 shares of the financial services provider’s stock worth $1,374,000 after acquiring an additional 1,067 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Chubb by 7.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 1,188 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 79 shares during the period. Great Lakes Retirement Inc. increased its stake in Chubb by 3.4% in the 1st quarter. Great Lakes Retirement Inc. now owns 2,828 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 94 shares in the last quarter. Finally, 1ST Source Bank raised its holdings in Chubb by 14.5% during the first quarter. 1ST Source Bank now owns 3,153 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 399 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Performance

NYSE CB opened at $286.90 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $115.65 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 6.64 and a beta of 0.67. The business’s 50-day moving average price is $287.84 and its 200 day moving average price is $272.67. Chubb Limited has a twelve month low of $216.26 and a twelve month high of $302.05.

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, topping the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same period last year, the company earned $4.95 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that Chubb Limited will post 21.64 earnings per share for the current year.

Insider Activity

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of Chubb 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 of the company’s stock, valued at $167,748,829.50. The trade was a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock valued at $24,874,208 in the last ninety days. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CB shares. Roth Mkm upped their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley increased their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Evercore ISI raised their price objective on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.