PNC Financial Services Group Inc. Has $266.94 Million Position in Chubb Limited (NYSE:CB)

PNC Financial Services Group Inc. increased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 925,622 shares of the financial services provider's stock after buying an additional 7,462 shares during the period. PNC Financial Services Group Inc. owned 0.23% of Chubb worth $266,940,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise raised its stake in Chubb by 29.5% in the third quarter. Banque Cantonale Vaudoise now owns 11,923 shares of the financial services provider's stock valued at $3,439,000 after buying an additional 2,718 shares during the period. SouthState Corp increased its holdings in shares of Chubb by 2.4% during the 3rd quarter. SouthState Corp now owns 54,173 shares of the financial services provider's stock worth $15,623,000 after acquiring an additional 1,261 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Chubb by 12.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,104 shares of the financial services provider's stock valued at $2,049,000 after acquiring an additional 799 shares during the period. Prospera Financial Services Inc lifted its holdings in Chubb by 14.1% during the 3rd quarter. Prospera Financial Services Inc now owns 14,937 shares of the financial services provider's stock valued at $4,308,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in Chubb by 13.8% during the 3rd quarter. Baron Wealth Management LLC now owns 1,941 shares of the financial services provider's stock valued at $560,000 after purchasing an additional 235 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Chubb stock traded down $4.78 during mid-day trading on Tuesday, reaching $283.95. The company had a trading volume of 1,059,629 shares, compared to its average volume of 1,605,311. The business has a fifty day simple moving average of $287.77 and a 200 day simple moving average of $273.64. The company has a market cap of $114.46 billion, a P/E ratio of 11.82, a P/E/G ratio of 6.71 and a beta of 0.67. 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 fifty-two week low of $216.90 and a fifty-two week high of $302.05.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion during the quarter, compared to analysts' expectations of $14.16 billion. During the same quarter in the prior year, the firm earned $4.95 EPS. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares of the company's stock, valued at $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares of the company's stock, valued at $160,341,094.40. This represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,715 shares of company stock valued at $23,803,540 in the last ninety days. 0.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Chubb from $294.00 to $295.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their price target on shares of Chubb from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price objective on Chubb from $266.00 to $268.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Morgan Stanley upped their target price on Chubb from $295.00 to $300.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on Chubb from $289.00 to $293.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Chubb has an average rating of "Hold" and an average price target of $287.37.

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.