Oak Harbor Wealth Partners LLC Has $2.12 Million Stake in Chubb Limited (NYSE:CB)

Oak Harbor Wealth Partners LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,348 shares of the financial services provider’s stock after selling 209 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Chubb were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors grew its stake in Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares during the period. Capital Research Global Investors grew its stake in Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after acquiring an additional 2,064,730 shares during the period. Ameriprise Financial Inc. grew its stake in Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after acquiring an additional 63,891 shares during the period. Legal & General Group Plc boosted its position in shares of Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after buying an additional 104,986 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after buying an additional 457,881 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the subject of several recent research reports. Roth Mkm upped their price objective on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler upped their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Bank of America upped their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley upped their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $287.37.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the firm’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 directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

NYSE:CB opened at $286.90 on Friday. The firm has a market capitalization of $115.65 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 6.64 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $216.26 and a 12-month high of $302.05. The stock’s 50 day moving average price is $287.84 and its two-hundred day moving average price is $272.67.

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

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.