ING Groep NV Reduces Stake in Chubb Limited (NYSE:CB)

ING Groep NV trimmed its position in shares of Chubb Limited (NYSE:CB) by 62.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,934 shares of the financial services provider’s stock after selling 31,290 shares during the quarter. ING Groep NV’s holdings in Chubb were worth $5,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CB. Capital Research Global Investors lifted its position in shares of 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 in the last quarter. International Assets Investment Management LLC raised its stake in Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after purchasing an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Capital World Investors boosted its stake in shares of Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after purchasing an additional 685,677 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.4 %

NYSE CB opened at $288.00 on Friday. The stock has a market cap of $116.09 billion, a P/E ratio of 11.79, a PEG ratio of 6.64 and a beta of 0.67. The company’s fifty day simple moving average is $287.84 and its 200-day simple moving average is $272.77. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 52 week low of $216.90 and a 52 week high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the prior year, the company posted $4.95 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts predict that Chubb Limited will post 21.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JMP Securities raised their price objective on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Roth Mkm raised their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler upped their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $287.37.

Insiders Place Their Bets

In other news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 in the last three months. 0.86% of the stock is owned by insiders.

About Chubb

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.