Chubb (NYSE:CB) Director Sells $1,897,500.00 in Stock

Chubb Limited (NYSE:CB) Director Michael Connors sold 5,500 shares of Chubb stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Chubb Stock Down 1.6%

CB stock opened at $338.19 on Friday. The company’s 50 day simple moving average is $347.13 and its 200-day simple moving average is $333.92. The firm has a market capitalization of $130.47 billion, a PE ratio of 11.96, a P/E/G ratio of 1.67 and a beta of 0.39. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. 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 (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same period last year, the company posted $6.14 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Equities analysts expect that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CB. IMG Wealth Management Inc. acquired a new stake in shares of Chubb during the second quarter worth $25,000. Dunhill Financial LLC acquired a new position in Chubb in the second quarter valued at $25,000. CBIZ Investment Advisory Services LLC lifted its position in Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares during the period. Parvin Asset Management LLC purchased a new position in Chubb during the second quarter worth about $26,000. Finally, Highland Investment Advisors LLC acquired a new stake in Chubb in the 2nd quarter worth about $26,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CB. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Cantor Fitzgerald lifted their price objective on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Citizens Jmp reissued a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Finally, Piper Sandler upped their target price on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently 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.