Carret Asset Management LLC Decreases Stake in Chubb Limited (NYSE:CB)

Carret Asset Management LLC lowered its position in Chubb Limited (NYSE:CB) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,126 shares of the financial services provider’s stock after selling 50 shares during the quarter. Carret Asset Management LLC’s holdings in Chubb were worth $292,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC purchased a new stake in shares of Chubb during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Chubb during the 4th quarter worth approximately $29,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Chubb during the 4th quarter worth approximately $32,000. Northwest Financial Advisors purchased a new stake in shares of Chubb during the 4th quarter worth approximately $33,000. Finally, Naples Money Management LLC purchased a new stake in shares of Chubb during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CB. Keefe, Bruyette & Woods reduced their price objective 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. Morgan Stanley boosted their price objective 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. Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 target price on shares of Chubb in a report on Monday, April 1st. Citigroup reaffirmed a “neutral” rating and issued a $275.00 target price (up from $238.00) on shares of Chubb in a report on Thursday, March 14th. Finally, HSBC reaffirmed a “hold” rating and issued a $270.00 target price (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $266.70.

Insider Activity

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

Chubb Stock Performance

Shares of CB opened at $253.77 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $103.05 billion, a P/E ratio of 11.26, a P/E/G ratio of 6.16 and a beta of 0.66. The company’s fifty day moving average is $259.48 and its two-hundred day moving average is $249.28. Chubb Limited has a 1 year low of $186.52 and a 1 year high of $275.41.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. Chubb’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.41 EPS. On average, sell-side analysts predict that Chubb Limited will post 21.03 earnings per share for the current year.

Chubb Increases Dividend

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

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.