Prospera Financial Services Inc Boosts Holdings in Chubb Limited (NYSE:CB)

Prospera Financial Services Inc grew its stake in Chubb Limited (NYSE:CB - Free Report) by 14.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,937 shares of the financial services provider's stock after buying an additional 1,850 shares during the quarter. Prospera Financial Services Inc's holdings in Chubb were worth $4,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CB. Wellington Shields & Co. LLC acquired a new position in Chubb during the first quarter worth $94,000. Edgestream Partners L.P. acquired a new position in Chubb during the first quarter worth $984,000. Bessemer Group Inc. raised its position in Chubb by 56.5% during the first quarter. Bessemer Group Inc. now owns 36,128 shares of the financial services provider's stock worth $9,362,000 after acquiring an additional 13,036 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Chubb by 38.5% during the first quarter. Lake Street Advisors Group LLC now owns 3,494 shares of the financial services provider's stock worth $908,000 after acquiring an additional 971 shares in the last quarter. Finally, Pitcairn Co. raised its position in Chubb by 133.2% during the first quarter. Pitcairn Co. now owns 4,979 shares of the financial services provider's stock worth $1,290,000 after acquiring an additional 2,844 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CB shares. Piper Sandler increased their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, October 4th. Evercore ISI raised their price target on shares of Chubb from $289.00 to $293.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $291.00 to $294.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Bank of America raised their price target on shares of Chubb from $275.00 to $282.00 and gave the company an "underperform" rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company raised their price objective on shares of Chubb from $266.00 to $268.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Two 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $287.37.

Chubb Stock Performance

Chubb stock traded down $1.06 during midday trading on Wednesday, reaching $282.81. The stock had a trading volume of 1,209,551 shares, compared to its average volume of 1,603,552. The firm's 50-day moving average price is $287.63 and its 200 day moving average price is $273.89. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The firm has a market capitalization of $114.00 billion, a PE ratio of 11.63, a P/E/G ratio of 6.71 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 (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same quarter in the previous year, the firm earned $4.95 earnings per share. Chubb's revenue was up 5.5% on a year-over-year basis. As a group, research analysts predict that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

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.