Chubb Limited (NYSE:CB) Shares Sold by Northwest Bancshares Inc.

Northwest Bancshares Inc. reduced its position in Chubb Limited (NYSE:CB) by 16.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,678 shares of the financial services provider’s stock after selling 3,904 shares during the quarter. Northwest Bancshares Inc.’s holdings in Chubb were worth $5,675,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Capital World Investors raised its stake 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 worth $2,849,677,000 after purchasing an additional 685,677 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in 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. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CB has been the subject of several research analyst reports. Roth Mkm increased their price objective on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays initiated coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley increased their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $287.37.

Chubb Stock Down 1.7 %

CB opened at $283.95 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market cap of $114.46 billion, a P/E ratio of 11.63, a PEG ratio of 6.71 and a beta of 0.67. Chubb Limited has a 52 week low of $216.90 and a 52 week high of $302.05. The business’s fifty day simple moving average is $287.63 and its 200 day simple moving average is $273.89.

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 analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period last year, the company earned $4.95 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Chubb Limited will post 21.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 6,599 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $287.06, for a total value of $1,894,308.94. Following the completion of the transaction, the executive vice president now owns 84,101 shares in the company, valued at approximately $24,142,033.06. This trade represents a 7.28 % 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 valued at $23,803,540. 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.