CIBC Asset Management Inc Increases Stock Holdings in Chubb Limited $CB

Key Points

• CIBC Asset Management increased its Chubb stake by 41.4% in the fourth quarter, buying 35,259 more shares and bringing its total holdings to 120,379 shares valued at about $37.6 million.
• Several other institutional investors also boosted positions, and hedge funds and other institutions now own 83.81% of Chubb’s shares.
• Insiders sold stock recently: COO John W. Keogh sold 23,000 shares and Director Olivier Steimer sold 2,000 shares, while analysts currently rate Chubb Moderate Buy with an average price target of $349.90.

CIBC Asset Management Inc grew its position in Chubb Limited (NYSE:CB - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,379 shares of the financial services provider's stock after buying an additional 35,259 shares during the quarter. CIBC Asset Management Inc's holdings in Chubb were worth $37,573,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its position in shares of Chubb by 38.3% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock valued at $35,000 after buying an additional 31 shares in the last quarter. Kathmere Capital Management LLC increased its position in shares of Chubb by 2.7% in the fourth quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock valued at $405,000 after buying an additional 34 shares in the last quarter. Wright Investors Service Inc. increased its position in shares of Chubb by 0.7% in the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock valued at $1,538,000 after buying an additional 34 shares in the last quarter. G&S Capital LLC increased its position in shares of Chubb by 1.5% in the fourth quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider's stock valued at $709,000 after buying an additional 34 shares in the last quarter. Finally, Phoenix Wealth Advisors increased its position in shares of Chubb by 0.4% in the fourth quarter. Phoenix Wealth Advisors now owns 8,467 shares of the financial services provider's stock valued at $2,643,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the sale, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by insiders.

Chubb Stock Performance

Shares of NYSE:CB opened at $313.03 on Thursday. The company has a market cap of $121.41 billion, a P/E ratio of 11.05, a PEG ratio of 1.59 and a beta of 0.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The business's 50-day simple moving average is $324.83 and its 200 day simple moving average is $317.68.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion for the quarter. On average, sell-side analysts forecast that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CB shares. Piper Sandler raised their price target on Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a research report on Tuesday, May 26th. Weiss Ratings upgraded Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, April 27th. Citizens Jmp lifted their price objective on Chubb from $350.00 to $365.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 22nd. Roth Mkm lifted their price objective on Chubb from $330.00 to $360.00 and gave the stock a "buy" rating in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group lifted their price objective on Chubb from $368.00 to $372.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $349.90.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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