PNC Financial Services Group Inc. Has $266.94 Million Position in Chubb Limited (NYSE:CB)

PNC Financial Services Group Inc. raised its holdings in shares of Chubb Limited (NYSE:CB) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 925,622 shares of the financial services provider’s stock after purchasing an additional 7,462 shares during the period. PNC Financial Services Group Inc. owned 0.23% of Chubb worth $266,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CB. Capital World Investors raised its holdings in Chubb by 6.6% in 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 period. Capital Research Global Investors boosted its holdings in 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. grew its holdings in shares of Chubb by 1.3% in 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 acquiring an additional 63,891 shares in the last quarter. Legal & General Group Plc grew its stake in Chubb by 2.9% in the second 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 in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Chubb by 14.8% during 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 buying an additional 457,881 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In other Chubb news, Director Michael G. Atieh sold 261 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. This represents a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,715 shares of company stock valued at $23,803,540. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. boosted their price target on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler boosted their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $287.37.

Chubb Stock Performance

NYSE CB opened at $288.66 on Tuesday. The firm has a market cap of $116.36 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 6.71 and a beta of 0.67. 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 company’s 50 day moving average is $287.77 and its 200-day moving average is $273.64. Chubb Limited has a 12-month low of $216.90 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The business 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 revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.95 EPS. Sell-side analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Company 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.