John W. Keogh Sells 9,794 Shares of Chubb Limited (NYSE:CB) Stock

Chubb Limited (NYSE:CB) COO John W. Keogh sold 9,794 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Chubb Trading Down 0.2%

CB opened at $285.54 on Thursday. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The stock has a 50-day moving average of $287.17 and a 200 day moving average of $281.77. The firm has a market cap of $114.42 billion, a P/E ratio of 12.57, a P/E/G ratio of 3.36 and a beta of 0.54. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. As a group, research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is 18.67%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. 1248 Management LLC purchased a new stake in shares of Chubb in the 1st quarter worth $41,000. Hodges Capital Management Inc. lifted its holdings in shares of Chubb by 33.1% in the 1st quarter. Hodges Capital Management Inc. now owns 2,085 shares of the financial services provider’s stock worth $630,000 after buying an additional 518 shares during the period. Modern Wealth Management LLC lifted its holdings in shares of Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after buying an additional 143 shares during the period. Nova Wealth Management Inc. purchased a new stake in shares of Chubb in the 1st quarter worth $47,000. Finally, Strs Ohio purchased a new stake in shares of Chubb in the 1st quarter worth $69,445,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price objective on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Barclays cut their price objective on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price objective on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut their price objective on Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Moderate Buy” and a consensus price target of $307.53.

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.