Assetmark Inc. Grows Position in Chubb Limited (NYSE:CB)

Assetmark Inc. raised its position in Chubb Limited (NYSE:CB) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,747 shares of the financial services provider’s stock after purchasing an additional 3,008 shares during the period. Assetmark Inc.’s holdings in Chubb were worth $19,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC raised its position in shares of Chubb by 0.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 33,060 shares of the financial services provider’s stock worth $9,534,000 after acquiring an additional 129 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Chubb during the third quarter worth approximately $681,000. Equitable Trust Co. lifted its position in shares of Chubb by 4.4% during the 3rd quarter. Equitable Trust Co. now owns 998 shares of the financial services provider’s stock worth $288,000 after buying an additional 42 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Chubb in the 3rd quarter valued at $82,000. Finally, Comprehensive Financial Consultants Institutional Inc. grew its position in shares of Chubb by 1.2% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 16,174 shares of the financial services provider’s stock valued at $4,664,000 after buying an additional 191 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JMP Securities upped their target price on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Roth Mkm boosted their price objective on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI raised their target price on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $287.37.

Chubb Stock Performance

Shares of CB stock opened at $281.36 on Friday. Chubb Limited has a 12-month low of $216.26 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. The stock has a 50 day simple moving average of $288.13 and a 200-day simple moving average of $271.73. The company has a market cap of $113.42 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 6.57 and a beta of 0.67.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $4.95 earnings per share. On average, equities analysts forecast that Chubb Limited will post 21.64 EPS for the current year.

Insider Activity

In related news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock worth $24,874,208 over the last 90 days. 0.86% of the stock is currently owned by corporate 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.