Key Points
- Director Michael Connors sold 5,500 Chubb shares at an average price of $345, generating approximately $1.90 million and reducing his direct holdings by 30.05% to 12,803 shares.
- Chubb reported quarterly EPS of $7.26, beating expectations of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company also declared a quarterly dividend of $1.02 per share, representing a 1.2% yield.
- Analysts have a consensus “Hold” rating with an average price target of $361, compared with the stock’s recent opening price of $342.90; institutional investors own 83.81% of Chubb’s shares.
Chubb Limited (NYSE:CB - Get Free Report) Director Michael Connors sold 5,500 shares of Chubb stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company's stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Chubb Stock Down 0.8%
CB stock opened at $342.90 on Wednesday. The stock has a market capitalization of $132.29 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.68 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The business has a fifty day moving average price of $346.53 and a 200-day moving average price of $333.79.
Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $15.07 billion. During the same period last year, the firm posted $6.14 earnings per share. Chubb's revenue was up 3.6% compared to the same quarter last year. Equities analysts forecast that Chubb Limited will post 27.49 earnings per share for the current fiscal year.
Chubb Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio is currently 14.43%.
Institutional Investors Weigh In On Chubb
A number of institutional investors and hedge funds have recently bought and sold shares of CB. Groupe la Francaise raised its stake in Chubb by 34.1% during the 2nd quarter. Groupe la Francaise now owns 79,780 shares of the financial services provider's stock valued at $27,192,000 after purchasing an additional 20,302 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Chubb in the 2nd quarter worth approximately $14,559,000. Financial Insights Inc. purchased a new stake in Chubb during the 2nd quarter valued at approximately $233,000. California State Teachers Retirement System grew its holdings in Chubb by 32,258.2% during the 2nd quarter. California State Teachers Retirement System now owns 184,618,043 shares of the financial services provider's stock valued at $62,906,752,000 after buying an additional 184,047,499 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of Chubb by 6.7% during the second quarter. Wedmont Private Capital now owns 5,743 shares of the financial services provider's stock valued at $1,997,000 after purchasing an additional 359 shares in the last quarter. 83.81% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
CB has been the topic of several research reports. Morgan Stanley raised their target price on shares of Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Evercore reiterated an "outperform" rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Weiss Ratings raised Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 29th. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and raised their price target for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Chubb has an average rating of "Hold" and an average price target of $361.00.
View Our Latest Report on Chubb
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.
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