Chase Investment Counsel Corp Reduces Stock Holdings in Chubb Limited (NYSE:CB)

Chase Investment Counsel Corp reduced its stake in shares of Chubb Limited (NYSE:CB) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,930 shares of the financial services provider’s stock after selling 465 shares during the quarter. Chase Investment Counsel Corp’s holdings in Chubb were worth $1,710,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC purchased a new stake in Chubb during the 2nd quarter worth approximately $963,000. Edgestream Partners L.P. bought a new stake in shares of Chubb in the 1st quarter valued at approximately $984,000. Moloney Securities Asset Management LLC increased its holdings in shares of Chubb by 97.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 1,905 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Chubb by 2.9% in the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after acquiring an additional 87,059 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,636 shares of company stock worth $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $283.03 on Wednesday. Chubb Limited has a 12 month low of $216.26 and a 12 month high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $287.99 and a two-hundred day moving average of $272.59. The company has a market capitalization of $114.09 billion, a P/E ratio of 11.59, a P/E/G ratio of 6.59 and a beta of 0.67.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period in the previous year, the business earned $4.95 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts expect that Chubb Limited will post 21.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CB shares. Evercore ISI boosted their price target on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Roth Mkm boosted their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price target on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, JMP Securities upped their price objective on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $287.37.

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.