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PNC Financial Services Group Inc. Decreases Stake in Chubb Limited $CB
PNC Financial Services Group Inc. reduced its stake in Chubb Limited (NYSE:CB) by 1.2% in Q3, now holding 878,443 shares valued at approximately $247.94 million. This reduction comes as Chubb reported Q3 earnings that beat expectations, with $7.52 EPS against an estimated $6.33, and an 8.9% year-over-year revenue increase to $2.08 billion. Despite institutional selling by PNC and some insider sales, analysts have largely maintained “Buy” or “Outperform” ratings for Chubb, with an average price target of $340.09.