Avantax Advisory Services Inc. Lowers Position in Chubb Limited $CB

Avantax Advisory Services Inc. decreased its holdings in shares of Chubb Limited (NYSE:CB) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,873 shares of the financial services provider’s stock after selling 4,264 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Chubb were worth $18,215,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the 1st quarter valued at $31,000. 1248 Management LLC purchased a new stake in Chubb during the first quarter valued at about $31,000. WPG Advisers LLC bought a new stake in Chubb during the first quarter worth about $33,000. Maseco LLP purchased a new position in shares of Chubb in the 2nd quarter worth about $35,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Chubb by 391.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of recent research reports. BMO Capital Markets restated a “market perform” rating and issued a $283.00 target price on shares of Chubb in a research report on Thursday, October 23rd. Citigroup boosted their price target on shares of Chubb from $326.00 to $331.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $333.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Evercore ISI lifted their price objective on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Finally, Hsbc Global Res cut Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $307.79.

Chubb Stock Performance

Shares of Chubb stock opened at $295.75 on Monday. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $280.40 and a two-hundred day simple moving average of $280.92. The firm has a market capitalization of $116.39 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.74 and a beta of 0.58.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business 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 firm earned $5.72 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities 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 business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the sale, the insider directly owned 90,600 shares of the company’s stock, valued at approximately $25,458,600. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president owned 60,593 shares of the company’s stock, valued at $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. 0.77% of the stock is currently owned by insiders.

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.