Balboa Wealth Partners Takes $259,000 Position in Chubb Limited (NYSE:CB)

Balboa Wealth Partners acquired a new position in shares of Chubb Limited (NYSE:CB) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 898 shares of the financial services provider’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Capital Management LLC lifted its stake in Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Chubb in the 1st quarter valued at $25,000. Kozak & Associates Inc. acquired a new position in Chubb during the 3rd quarter worth about $29,000. Chilton Capital Management LLC purchased a new position in Chubb during the 2nd quarter valued at about $26,000. Finally, Kimelman & Baird LLC acquired a new position in Chubb in the 2nd quarter valued at about $32,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Roth Mkm increased their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Piper Sandler boosted their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Morgan Stanley increased their price objective on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Trading Up 0.4 %

Shares of Chubb stock opened at $288.00 on Friday. 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 company has a fifty day simple moving average of $287.84 and a 200-day simple moving average of $272.77. The stock has a market cap of $116.09 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 6.64 and a beta of 0.67. Chubb Limited has a 12-month low of $216.90 and a 12-month high of $302.05.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $14.16 billion. During the same quarter in the prior year, the firm posted $4.95 earnings per share. Chubb’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Chubb Limited will post 21.66 EPS for the current fiscal year.

Insider Activity at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. This represents a 8.08 % 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 valued at $24,874,208 in the last three months. 0.86% of the stock is currently owned by company 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.