Carnegie Investment Counsel Has $40.70 Million Stock Position in Chubb Limited $CB

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

Several other institutional investors also recently modified their holdings of the stock. FSM Wealth Advisors LLC grew its position in shares of Chubb by 4.0% during the 2nd quarter. FSM Wealth Advisors LLC now owns 2,726 shares of the financial services provider’s stock worth $763,000 after buying an additional 104 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Chubb by 22.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 4,272 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 783 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Chubb by 10.8% during the 2nd 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 buying an additional 872 shares during the period. Bleakley Financial Group LLC acquired a new position in shares of Chubb during the 2nd quarter worth about $3,006,000. Finally, Forum Financial Management LP grew its position in shares of Chubb by 10.6% during the 2nd quarter. Forum Financial Management LP now owns 7,490 shares of the financial services provider’s stock worth $2,170,000 after buying an additional 715 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the subject of several analyst reports. Morgan Stanley decreased 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 lowered Chubb from a “buy” rating to a “hold” rating and decreased their target price for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a research report on Wednesday, August 13th. The Goldman Sachs Group boosted their price objective on Chubb from $299.00 to $303.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $306.16.

Chubb Trading Up 2.3%

NYSE CB opened at $282.84 on Friday. The stock has a market capitalization of $112.76 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 3.11 and a beta of 0.54. The stock’s 50 day moving average price is $277.50 and its two-hundred day moving average price is $280.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.34. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating the consensus estimate of $5.51 by $1.98. The firm had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.72 EPS. As a group, analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Chubb Company 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.