What’s Ahead for Chubb Limited (CB) After Forming Double Top Pattern?

March 14, 2018 - By Adrian Mccoy

Investors sentiment decreased to 0.86 in Q3 2017. Its down 0.28, from 1.14 in 2017Q2. It is negative, as 1 investors sold Chubb Limited shares while 6 reduced holdings. 1 funds opened positions while 5 raised stakes. 495,724 shares or 25.88% less from 668,785 shares in 2017Q2 were reported.
Axiom Lc De reported 212,419 shares stake. Baldwin Investment Management Limited Co holds 0.24% in Chubb Limited (NYSE:CB) or 4,475 shares. Massachusetts-based Penobscot Investment Mngmt Inc has invested 1.82% in Chubb Limited (NYSE:CB). California-based Gemmer Asset Ltd has invested 0.01% in Chubb Limited (NYSE:CB). Moreover, Hudson Valley Advsrs Inc Adv has 0.77% invested in Chubb Limited (NYSE:CB) for 20,742 shares. Rowland Co Investment Counsel Adv holds 2.85% in Chubb Limited (NYSE:CB) or 46,294 shares. Eqis Mngmt Incorporated holds 10,466 shares. Parametric Assocs Limited Liability Company holds 0% or 2,628 shares. Cibc Ww Corp holds 67,798 shares or 0.09% of its portfolio. Connors Investor owns 48,728 shares. 1,743 were accumulated by Van Hulzen Asset Management Limited Liability Com. Benedict Fin Advsrs Inc accumulated 17,138 shares or 1.25% of the stock. 231 are owned by Vantage Advisors Lc. Jolley Asset Mgmt Limited reported 0.02% of its portfolio in Chubb Limited (NYSE:CB). Cleararc Capital holds 0.26% or 11,979 shares.

The chart of Chubb Limited (CB) shows a double top with $146.62 target or 4.00 % above today’s $140.98 share price. The 6 months chart pattern indicates low risk for the $65.43B company. It was reported on Mar, 14 by Finviz.com. If the $146.62 price target is reached, the company will be worth $2.62B more. Double tops are rare but powerful chart patterns.

The stock decreased 0.68% or $0.96 during the last trading session, reaching $140.98. About 502,607 shares traded. Chubb Limited (NYSE:CB) has risen 10.92% since March 14, 2017 and is uptrending. It has underperformed by 5.78% the S&P500.

Analysts await Chubb Limited (NYSE:CB) to report earnings on April, 24. They expect $2.58 EPS, up 4.03 % or $0.10 from last year’s $2.48 per share. CB’s profit will be $1.20 billion for 13.66 P/E if the $2.58 EPS becomes a reality. After $3.17 actual EPS reported by Chubb Limited for the previous quarter, Wall Street now forecasts -18.61 % negative EPS growth.

Chubb Limited (NYSE:CB) Ratings Coverage

Among 22 analysts covering The Chubb Corporation (NYSE:CB), 18 have Buy rating, 0 Sell and 4 Hold. Therefore 82% are positive. The Chubb Corporation had 51 analyst reports since July 24, 2015 according to SRatingsIntel. Citigroup initiated the stock with “Buy” rating in Friday, November 13 report. The rating was downgraded by BMO Capital Markets to “Market Perform” on Monday, July 11. On Friday, August 28 the stock rating was upgraded by Zacks to “Hold”. The stock of Chubb Limited (NYSE:CB) earned “Outperform” rating by Credit Suisse on Wednesday, October 28. The company was upgraded on Wednesday, November 8 by JP Morgan. Keefe Bruyette & Woods maintained the shares of CB in report on Wednesday, September 27 with “Buy” rating. The stock of Chubb Limited (NYSE:CB) has “Buy” rating given on Wednesday, November 1 by UBS. RBC Capital Markets maintained the shares of CB in report on Thursday, January 28 with “Outperform” rating. The stock of Chubb Limited (NYSE:CB) earned “Buy” rating by RBC Capital Markets on Friday, October 27. The rating was downgraded by Zacks on Wednesday, August 26 to “Buy”.

More notable recent Chubb Limited (NYSE:CB) news were published by: Reuters.com which released: “Insurer Chubb says will stop underwriting NRA insurance for gun owners” on February 23, 2018, also Businessinsurance.com with their article: “Chubb denies liability coverage to Harvey Weinstein” published on March 01, 2018, Streetinsider.com published: “Form 4/A Chubb Ltd For: Feb 23 Filed by: KRUMP PAUL J” on March 06, 2018. More interesting news about Chubb Limited (NYSE:CB) were released by: Reuters.com and their article: “Grab forms venture with Japan’s Credit Saison for lending services” published on March 13, 2018 as well as Reuters.com‘s news article titled: “MOVES-Chubb appoints Scott Simpson as Singapore division president” with publication date: March 05, 2018.

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