Bank of New York Mellon Corp Reduces Stock Position in Chubb Limited (NYSE:CB)

Bank of New York Mellon Corp trimmed its holdings in Chubb Limited (NYSE:CB) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,326,176 shares of the financial services provider’s stock after selling 14,498 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of Chubb worth $642,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Continuum Advisory LLC grew its position in shares of Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Chubb during the 3rd quarter worth about $29,000. Raelipskie Partnership bought a new position in Chubb in the 3rd quarter worth about $29,000. Sierra Ocean LLC purchased a new position in Chubb during the 4th quarter valued at about $29,000. Finally, Truvestments Capital LLC bought a new stake in shares of Chubb during the third quarter valued at about $30,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Barclays reduced their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price objective on shares of Chubb in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $295.73.

Chubb Trading Up 1.6 %

CB stock opened at $277.72 on Wednesday. Chubb Limited has a one year low of $238.85 and a one year high of $302.05. The company has a market capitalization of $111.95 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 3.36 and a beta of 0.67. The company’s 50 day moving average price is $270.56 and its two-hundred day moving average price is $279.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb 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.