Ontario Teachers Pension Plan Board Sells 22,250 Shares of Chubb Limited (NYSE:CB)

Ontario Teachers Pension Plan Board cut its position in shares of Chubb Limited (NYSE:CB) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,572,215 shares of the financial services provider’s stock after selling 22,250 shares during the quarter. Chubb comprises about 6.3% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 3rd largest position. Ontario Teachers Pension Plan Board owned 0.64% of Chubb worth $741,801,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CB. Wellington Shields & Co. LLC acquired a new position in shares of Chubb during the first quarter valued at about $94,000. Edgestream Partners L.P. bought a new position in shares of Chubb in the 1st quarter worth $984,000. Bessemer Group Inc. grew its position in Chubb by 56.5% in the 1st quarter. Bessemer Group Inc. now owns 36,128 shares of the financial services provider’s stock valued at $9,362,000 after purchasing an additional 13,036 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Chubb by 38.5% in the first quarter. Lake Street Advisors Group LLC now owns 3,494 shares of the financial services provider’s stock valued at $908,000 after buying an additional 971 shares in the last quarter. Finally, Pitcairn Co. increased its position in shares of Chubb by 133.2% during the first quarter. Pitcairn Co. now owns 4,979 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 2,844 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays began coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. JMP Securities raised 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, Bank of America increased their price objective on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Two investment 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $287.37.

Insider Buying and Selling at Chubb

In other news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $11,261,558.28. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 6,599 shares of the company’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 of the company’s stock, valued at $24,142,033.06. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock valued at $23,803,540 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Chubb Trading Down 1.7 %

Shares of CB opened at $283.95 on Wednesday. The business’s 50-day moving average price is $287.63 and its 200-day moving average price is $273.89. The stock has a market cap of $114.46 billion, a PE ratio of 11.63, a P/E/G ratio of 6.71 and a beta of 0.67. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for 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 quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.95 earnings per share. On average, equities analysts forecast that Chubb Limited will post 21.77 EPS for the current fiscal year.

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.