Carnegie Investment Counsel Has $40.70 Million Stake in Chubb Limited $CB

Carnegie Investment Counsel decreased its stake in Chubb Limited (NYSE:CB) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,462 shares of the financial services provider’s stock after selling 2,398 shares during the period. Chubb makes up 0.8% of Carnegie Investment Counsel’s portfolio, making the stock its 28th largest holding. Carnegie Investment Counsel’s holdings in Chubb were worth $40,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FSM Wealth Advisors LLC lifted its position in Chubb by 4.0% in the second quarter. FSM Wealth Advisors LLC now owns 2,726 shares of the financial services provider’s stock worth $763,000 after purchasing an additional 104 shares during the period. First Citizens Bank & Trust Co. lifted its position in Chubb by 22.4% in the second quarter. First Citizens Bank & Trust Co. now owns 4,272 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 783 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Chubb by 10.8% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 8,962 shares of the financial services provider’s stock worth $2,596,000 after purchasing an additional 872 shares during the period. Bleakley Financial Group LLC bought a new position in Chubb in the second quarter worth $3,006,000. Finally, Forum Financial Management LP lifted its position in Chubb by 10.6% in the second quarter. Forum Financial Management LP now owns 7,490 shares of the financial services provider’s stock worth $2,170,000 after purchasing an additional 715 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $282.84 on Friday. The stock has a 50-day moving average price of $277.50 and a 200 day moving average price of $280.80. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.18. The firm has a market cap of $112.76 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 3.11 and a beta of 0.54. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The firm had revenue of $14.87 billion during the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $5.72 earnings per share. Research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Analyst Ratings Changes

Several research analysts recently commented on CB shares. Morgan Stanley reduced their target price on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. HSBC cut Chubb from a “buy” rating to a “hold” rating and cut their price objective for the company from $317.00 to $300.00 in a report on Friday, August 1st. Wolfe Research lifted their price objective on Chubb from $320.00 to $336.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup initiated coverage on Chubb in a report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price objective for the company. Finally, UBS Group cut their price objective on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus price target of $306.16.

Chubb Profile

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.