Carret Asset Management LLC Lowers Stock Holdings in Chubb Limited (NYSE:CB)

Carret Asset Management LLC trimmed its stake in Chubb Limited (NYSE:CB) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,126 shares of the financial services provider’s stock after selling 50 shares during the period. Carret Asset Management LLC’s holdings in Chubb were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CB. Saxon Interests Inc. lifted its position in shares of Chubb by 6.2% in the 1st quarter. Saxon Interests Inc. now owns 4,489 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 261 shares during the period. Verum Partners LLC purchased a new stake in shares of Chubb in the 1st quarter worth approximately $217,000. MV Capital Management Inc. lifted its position in shares of Chubb by 3.2% in the 1st quarter. MV Capital Management Inc. now owns 12,633 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 393 shares during the period. Woodmont Investment Counsel LLC lifted its position in shares of Chubb by 6.1% in the 1st quarter. Woodmont Investment Counsel LLC now owns 30,616 shares of the financial services provider’s stock worth $7,934,000 after purchasing an additional 1,748 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Chubb in the 1st quarter worth approximately $377,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 34,707 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO John W. Keogh sold 34,707 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares in the company, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock worth $12,149,985 over the last 90 days. 0.86% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CB has been the subject of several research reports. Morgan Stanley upped their price target on shares of Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods lowered their price target on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Bank of America upgraded shares of Chubb from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $244.00 to $266.00 in a research note on Thursday, May 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $285.00 price objective on shares of Chubb in a research note on Friday, June 28th. Finally, Roth Mkm reiterated a “buy” rating and set a $280.00 price objective on shares of Chubb in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus price target of $266.70.

Chubb Trading Down 0.7 %

Shares of Chubb stock opened at $253.77 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $186.52 and a 12-month high of $275.41. The firm has a market capitalization of $103.05 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 6.16 and a beta of 0.66. The firm’s 50 day simple moving average is $259.48 and its two-hundred day simple moving average is $249.28.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. Chubb’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.41 EPS. Analysts predict that Chubb Limited will post 21.03 EPS for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.91 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is presently 16.16%.

About Chubb

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.