Chubb Limited (NYSE:CB) Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel boosted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 204.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,860 shares of the financial services provider's stock after acquiring an additional 95,998 shares during the period. Chubb accounts for about 1.0% of Carnegie Investment Counsel's investment portfolio, making the stock its 20th largest position. Carnegie Investment Counsel's holdings in Chubb were worth $41,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CB. FMR LLC boosted its stake in Chubb by 0.6% during the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock worth $4,329,173,000 after buying an additional 91,892 shares during the period. Capital World Investors boosted its stake in shares of Chubb by 1.9% during the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after purchasing an additional 212,889 shares during the period. Capital Research Global Investors boosted its stake in shares of Chubb by 1.5% during the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock valued at $2,457,402,000 after purchasing an additional 131,075 shares during the period. Demars Financial Group LLC boosted its stake in shares of Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Chubb by 46.7% during the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after purchasing an additional 1,403,545 shares during the period. Institutional investors own 83.81% of the company's stock.

Chubb Trading Down 0.3%

Shares of CB traded down $0.90 during midday trading on Friday, reaching $269.28. The company had a trading volume of 2,979,052 shares, compared to its average volume of 2,031,676. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The stock has a market cap of $107.91 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The firm has a 50 day simple moving average of $284.54 and a 200-day simple moving average of $282.35. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $5.38 EPS. Research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is presently 17.12%.

Chubb announced that its board has authorized a stock buyback plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Morgan Stanley boosted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Piper Sandler restated a "neutral" rating and set a $283.00 price objective (down previously from $335.00) on shares of Chubb in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $302.64.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,390 shares of company stock valued at $29,163,135. 0.77% of the stock is owned by company insiders.

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.