Advisors Capital Management LLC Buys 452 Shares of Chubb Limited $CB

Advisors Capital Management LLC raised its stake in Chubb Limited (NYSE:CB) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,275 shares of the financial services provider’s stock after purchasing an additional 452 shares during the period. Advisors Capital Management LLC’s holdings in Chubb were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CB. Modern Wealth Management LLC grew its position in Chubb by 6.2% during the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 143 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Chubb by 14.1% during the second quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock worth $20,655,000 after buying an additional 8,828 shares during the period. Trifecta Capital Advisors LLC grew its holdings in shares of Chubb by 764.7% during the second quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock worth $43,000 after buying an additional 130 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after buying an additional 7,065 shares during the last quarter. Finally, Legato Capital Management LLC increased its position in Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock valued at $3,080,000 after acquiring an additional 5,582 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Chubb in a research report on Monday, October 27th. Piper Sandler reaffirmed a “neutral” rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research note on Wednesday, October 22nd. Bank of America upped their price objective on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Chubb in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $307.79.

Chubb Stock Performance

Shares of NYSE:CB opened at $295.75 on Friday. The business’s 50-day simple moving average is $280.40 and its 200 day simple moving average is $280.95. The company has a market cap of $116.39 billion, a P/E ratio of 12.34, a PEG ratio of 2.74 and a beta of 0.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.27. Chubb Limited has a one year low of $252.16 and a one year high of $306.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The company had revenue of $14.87 billion during the quarter, compared to the consensus estimate of $12.95 billion. During the same quarter last year, the company earned $5.72 earnings per share. Chubb’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 23,698 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares of the company’s stock, valued at $25,458,600. This represents a 20.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares in the company, valued at approximately $18,000,968.44. The trade was a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Chubb 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.