Fideuram Asset Management Ireland dac Makes New Investment in Chubb Limited $CB

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Chubb during the fourth quarter, buying 3,353 shares valued at about $1.05 million.
• Other institutional investors also adjusted their stakes, and overall institutions own 83.81% of Chubb’s stock.
• Analysts remain generally constructive on Chubb, with a Moderate Buy consensus and an average price target of $349.90, while recent insider sales were disclosed by COO John W. Keogh and Director Olivier Steimer.

Fideuram Asset Management Ireland dac acquired a new position in Chubb Limited (NYSE:CB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,353 shares of the financial services provider's stock, valued at approximately $1,047,000.

Other large investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC boosted its holdings in shares of Chubb by 2.7% in the 4th quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock worth $405,000 after purchasing an additional 34 shares during the period. Wright Investors Service Inc. boosted its holdings in shares of Chubb by 0.7% in the 4th quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock worth $1,538,000 after purchasing an additional 34 shares during the period. G&S Capital LLC boosted its holdings in shares of Chubb by 1.5% in the 4th quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider's stock worth $709,000 after purchasing an additional 34 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Chubb by 7.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider's stock worth $148,000 after purchasing an additional 36 shares during the period. Finally, Phoenix Wealth Advisors boosted its holdings in shares of Chubb by 0.4% in the 4th quarter. Phoenix Wealth Advisors now owns 8,467 shares of the financial services provider's stock worth $2,643,000 after purchasing an additional 36 shares during the period. 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 the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the business's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CB. Weiss Ratings upgraded Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, April 27th. Barclays lifted their target price on Chubb from $374.00 to $375.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on Chubb from $368.00 to $372.00 and gave the stock a "buy" rating in a report on Tuesday, April 7th. Wells Fargo & Company lifted their target price on Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $349.90.

Chubb Price Performance

CB opened at $311.54 on Friday. The business has a fifty day moving average of $325.57 and a 200 day moving average of $317.11. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The stock has a market cap of $120.84 billion, a P/E ratio of 11.00, a PEG ratio of 1.59 and a beta of 0.43.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion during the quarter. As a group, sell-side analysts anticipate that Chubb Limited will post 26.8 EPS for the current year.

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.