Michael Connors Sells 5,500 Shares of Chubb (NYSE:CB) Stock

Chubb Limited (NYSE:CB) Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Chubb Stock Up 0.3%

CB opened at $344.08 on Thursday. The stock has a market cap of $132.75 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s fifty day moving average is $346.84 and its 200 day moving average is $333.88. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.14 EPS. On average, sell-side analysts forecast that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in Chubb by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock worth $102,959,000 after purchasing an additional 5,225 shares during the last quarter. National Pension Service boosted its position in shares of Chubb by 24.4% during the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock valued at $358,462,000 after buying an additional 225,515 shares during the period. Harbour Investments Inc. grew its stake in shares of Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock valued at $3,108,000 after buying an additional 8,947 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Chubb by 16.8% during the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock valued at $5,424,000 after buying an additional 2,389 shares during the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Chubb in the fourth quarter worth approximately $3,486,000. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CB has been the topic of a number of research analyst reports. UBS Group boosted their price target on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Atlantic Securities set a $301.00 price target on shares of Chubb in a report on Wednesday, July 15th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $361.00.

About Chubb

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.