Foster & Motley Inc. Cuts Stake in Chubb Limited (NYSE:CB)

Foster & Motley Inc. lowered its holdings in shares of Chubb Limited (NYSE:CB) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,562 shares of the financial services provider’s stock after selling 249 shares during the quarter. Foster & Motley Inc.’s holdings in Chubb were worth $1,316,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Capital World Investors grew 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 worth $2,849,677,000 after purchasing an additional 685,677 shares in the last quarter. Capital Research Global Investors grew its holdings in Chubb by 44.4% during the 1st 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 buying an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. grew its holdings 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 valued at $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc grew its holdings in 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 buying an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 in the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CB. Barclays began coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Piper Sandler raised their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. JMP Securities raised their price target on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Bank of America raised their price objective on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $287.37.

Chubb Price Performance

Shares of CB stock opened at $280.02 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average price of $288.26 and a 200 day moving average price of $271.47. The firm has a market capitalization of $112.88 billion, a P/E ratio of 11.47, a P/E/G ratio of 6.52 and a beta of 0.67. Chubb Limited has a 52-week low of $216.26 and a 52-week high of $302.05.

Chubb (NYSE:CB) last issued its 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. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. Chubb’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.95 EPS. As a group, sell-side analysts predict that Chubb Limited will post 21.6 earnings per share for the current 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.