Insider Selling: Chubb Limited (NYSE:CB) COO Sells 85,083 Shares of Stock

Chubb Limited (NYSE:CB) COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the transaction, the chief operating officer now directly owns 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Chubb Stock Down 0.3%

CB opened at $286.31 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $288.21 and a 200-day moving average price of $281.06. Chubb Limited has a twelve month low of $251.42 and a twelve month high of $306.91. The stock has a market capitalization of $114.73 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 3.36 and a beta of 0.57.

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

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors 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 yield of 1.36%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s payout ratio is 18.67%.

Chubb announced that its Board of Directors has initiated a stock repurchase 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on CB shares. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a research report on Tuesday, May 20th. Wells Fargo & Company lifted their target price on shares of Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their target price on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Barclays decreased their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb has an average rating of “Moderate Buy” and an average price target of $307.53.

Institutional Trading of Chubb

Large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after buying an additional 388,746 shares during the period. California Public Employees Retirement System boosted its position in shares of Chubb by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after purchasing an additional 14,610 shares during the period. Canopy Partners LLC boosted its position in shares of Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 2,340 shares during the period. Vista Investment Partners II LLC bought a new position in shares of Chubb in the fourth quarter worth approximately $2,442,000. Finally, Raymond James Financial Inc. bought a new position in shares of Chubb in the fourth quarter worth approximately $1,158,897,000. 83.81% of the stock is currently owned by institutional investors.

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.