Cacti Asset Management buys $26.3 Million stake in Chubb Ltd (CB)

Chubb Ltd (CB) : Cacti Asset Management scooped up 55,339 additional shares in Chubb Ltd during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 217,482 shares of Chubb Ltd which is valued at $26.3 Million.Chubb Ltd makes up approximately 2.83% of Cacti Asset Management’s portfolio.

On the company’s financial health, Chubb Ltd reported $2.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $2.29. The company had revenue of $3629.00 million for the quarter, compared to analysts expectations of $3963.75 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.47 EPS.

Many Wall Street Analysts have commented on Chubb Ltd. Shares were Reiterated by RBC Capital Mkts on Jan 28, 2016 to “Outperform” and Lowered the Price Target to $ 120 from a previous price target of $121 .Chubb Ltd was Upgraded by Sandler O’Neill to ” Buy” on Jan 27, 2016.

Chubb Ltd closed down -0.24 points or -0.20% at $118.57 with 23,28,881 shares getting traded on Monday. Post opening the session at $118.83, the shares hit an intraday low of $118.57 and an intraday high of $120.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Chubb Ltd formerly ACE Ltd is a Switzerland-based insurance and reinsurance company. The Company offers commercial and personal property and casualty insurance personal accident and supplemental health insurance travel accident insurance specialty coverage insurances recreational marine and aviation insurance agricultural insurance as well as reinsurance and life insurance. It mainly serves multinational companies small and medium-sized enterprises as well as high net worth individuals. The Company maintains executive offices in Zurich New York and London among others and is present in Latin America North America Asia Europe and Africa. It came into being from a merger of ACE Ltd and Chubb Corp.

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