Kovack Advisors Inc. Makes New $234,000 Investment in Chubb Limited (NYSE:CB)

Kovack Advisors Inc. bought a new position in shares of Chubb Limited (NYSE:CB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 811 shares of the financial services provider’s stock, valued at approximately $234,000.

Several other institutional investors have also recently made changes to their positions in CB. Pinnacle Financial Partners Inc grew its holdings in Chubb by 1.0% in the third quarter. Pinnacle Financial Partners Inc now owns 8,382 shares of the financial services provider’s stock worth $2,417,000 after purchasing an additional 86 shares during the period. Hartline Investment Corp boosted its position in shares of Chubb by 16.0% in the 3rd quarter. Hartline Investment Corp now owns 977 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 135 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Chubb in the 3rd quarter worth approximately $937,000. Haverford Trust Co increased its position in Chubb by 4.6% during the 3rd quarter. Haverford Trust Co now owns 9,613 shares of the financial services provider’s stock valued at $2,772,000 after buying an additional 423 shares in the last quarter. Finally, Missouri Trust & Investment Co raised its stake in Chubb by 31.1% during the third quarter. Missouri Trust & Investment Co now owns 3,118 shares of the financial services provider’s stock valued at $899,000 after buying an additional 740 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America raised their price objective on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Evercore ISI increased their price target on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada boosted their price target on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Two equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $287.37.

Insider Activity

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 4.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

Chubb Stock Up 0.4 %

Shares of CB stock opened at $288.00 on Friday. The company has a 50 day simple moving average of $287.84 and a two-hundred day simple moving average of $272.77. The stock has a market cap of $116.09 billion, a P/E ratio of 11.79, a P/E/G ratio of 6.64 and a beta of 0.67. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same period last year, the firm earned $4.95 EPS. Chubb’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts expect that Chubb Limited will post 21.66 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.