Chubb (NYSE:CB) Hits New 52-Week High – Here’s Why

Chubb Limited (NYSE:CB) shares hit a new 52-week high on Monday . The company traded as high as $343.53 and last traded at $341.4630, with a volume of 622609 shares trading hands. The stock had previously closed at $340.86.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CB. Mizuho lifted their target price on shares of Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Jefferies Financial Group lifted their price objective on Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft increased their target price on Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research note on Monday, November 24th. Raymond James Financial lifted their target price on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research report on Monday, February 9th. Finally, Wolfe Research increased their price target on shares of Chubb from $364.00 to $372.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus target price of $340.81.

Chubb Stock Up 0.6%

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.24 and a quick ratio of 0.27. The company has a market cap of $135.00 billion, a PE ratio of 13.33, a P/E/G ratio of 2.17 and a beta of 0.49. The business’s 50 day moving average is $315.97 and its 200-day moving average is $295.86.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $6.02 EPS. As a group, analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 13th. Chubb’s payout ratio is 15.08%.

Insider Transactions at Chubb

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the sale, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Westbourne Investment Advisors Inc. increased its holdings in shares of Chubb by 12.3% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after acquiring an additional 2,427 shares during the period. Sivia Capital Partners LLC lifted its holdings in Chubb by 166.3% in the third quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 2,315 shares during the period. Caprock Group LLC acquired a new stake in Chubb during the third quarter valued at approximately $3,123,000. Liberty One Investment Management LLC bought a new stake in Chubb during the third quarter worth approximately $51,167,000. Finally, Cooke & Bieler LP grew its position in Chubb by 21.3% in the third quarter. Cooke & Bieler LP now owns 606,011 shares of the financial services provider’s stock worth $171,047,000 after buying an additional 106,237 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Company Profile

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.