Key Points
- Chubb COO John Keogh sold 23,000 shares on May 27 at an average price of $321.51, for total proceeds of about $7.39 million.
- After the sale, Keogh still held 203,322 shares, worth roughly $65.37 million, and the transaction reduced his ownership by about 10.16%.
- Chubb shares were trading around $311.54, while the company continued to show solid profitability metrics and strong institutional ownership, with hedge funds and other investors holding 83.81% of the stock.
Chubb Limited (NYSE:CB - Get Free Report) COO John Keogh sold 23,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Chubb Price Performance
Shares of NYSE CB opened at $311.54 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a fifty day moving average price of $325.57 and a 200 day moving average price of $317.11. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67. The company has a market cap of $120.84 billion, a PE ratio of 11.00, a P/E/G ratio of 1.62 and a beta of 0.43.
Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.93 billion during the quarter. Sell-side analysts forecast that Chubb Limited will post 26.8 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in CB. Berkshire Hathaway Inc increased its position in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after buying an additional 4,299,111 shares in the last quarter. Norges Bank purchased a new position in shares of Chubb in the fourth quarter valued at $1,081,190,000. Price T Rowe Associates Inc. MD increased its position in shares of Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock valued at $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Chubb in the fourth quarter valued at $795,378,000. Finally, GQG Partners LLC increased its position in shares of Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock valued at $3,895,627,000 after buying an additional 1,647,729 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Analyst Ratings Changes
CB has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. BMO Capital Markets increased their price objective on Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Citigroup increased their price objective on Chubb from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. JPMorgan Chase & Co. increased their price objective on Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Finally, Jefferies Financial Group cut their price objective on Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $349.90.
Get Our Latest Stock Analysis on CB
Chubb Company Profile
(
Get Free Report)
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
Further Reading
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