Metis Global Partners LLC Lowers Holdings in Chubb Limited (NYSE:CB)

Metis Global Partners LLC reduced its position in shares of Chubb Limited (NYSE:CB) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,383 shares of the financial services provider’s stock after selling 1,119 shares during the quarter. Metis Global Partners LLC’s holdings in Chubb were worth $5,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors grew its position in shares of Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares during the last quarter. Capital Research Global Investors boosted its stake in 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 acquiring an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. increased its position 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 in the last quarter. Legal & General Group Plc lifted its holdings in shares of Chubb by 2.9% during 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 purchasing an additional 104,986 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CB shares. Wells Fargo & Company upped their target price on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group upped their price target on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Barclays began coverage on shares of Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective on the stock. Roth Mkm raised their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler lifted their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $287.37.

Insider Transactions at Chubb

In related news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,636 shares of company stock worth $24,874,208. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $286.90 on Friday. The firm’s 50 day moving average is $287.84 and its two-hundred day moving average is $272.67. Chubb Limited has a 52 week low of $216.26 and a 52 week 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. The firm has a market capitalization of $115.65 billion, a P/E ratio of 11.75, a P/E/G ratio of 6.64 and a beta of 0.67.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the previous year, the company earned $4.95 earnings per share. Chubb’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that Chubb Limited will post 21.64 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.