Peapack Gladstone Financial Corp cut its position in shares of Chubb Limited (NYSE:CB – Free Report) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,142 shares of the financial services provider’s stock after selling 8,298 shares during the period. Peapack Gladstone Financial Corp’s holdings in Chubb were worth $26,574,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC raised its stake in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Chubb during the 3rd quarter worth about $31,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb during the 4th quarter worth about $31,000. Ares Financial Consulting LLC purchased a new stake in shares of Chubb during the 4th quarter worth about $32,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Chubb by 81.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 53 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
Chubb Stock Performance
CB opened at $311.54 on Monday. The firm has a market capitalization of $120.84 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.59 and a beta of 0.41. The stock’s 50 day moving average price is $325.57 and its two-hundred day moving average price is $317.31. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67.
Analysts Set New Price Targets
CB has been the topic of a number of analyst reports. Roth Mkm increased their price objective on Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. The Goldman Sachs Group increased their price objective on Chubb from $368.00 to $372.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wells Fargo & Company increased their price objective on Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Citizens Jmp increased their price objective on Chubb from $350.00 to $365.00 and gave the company a “market outperform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $349.90.
Read Our Latest Research Report on Chubb
Insider Buying and Selling
In related news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director owned 25,468 shares of the company’s stock, valued at $8,386,612.40. This trade represents a 7.28% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by company insiders.
About Chubb
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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