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

Chubb Limited (NYSE:CB) Director Michael Connors sold 5,500 shares of Chubb stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company’s stock, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Chubb Stock Performance

Shares of Chubb stock opened at $342.90 on Wednesday. The company has a market cap of $132.29 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.68 and a beta of 0.39. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The business has a 50 day moving average price of $346.53 and a 200-day moving average price of $333.79. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the firm earned $6.14 earnings per share. Chubb’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate 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. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio is currently 14.43%.

Analyst Upgrades and Downgrades

CB has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Barclays set a $387.00 price objective on Chubb in a research note on Tuesday, July 7th. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Evercore restated an “outperform” rating and issued a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. Finally, Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $361.00.

Institutional Investors Weigh In On Chubb

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its position in shares of Chubb by 32,258.2% in the 2nd quarter. California State Teachers Retirement System now owns 184,618,043 shares of the financial services provider’s stock worth $62,906,752,000 after purchasing an additional 184,047,499 shares during the last quarter. XXEC Inc. purchased a new stake in Chubb during the 2nd quarter valued at about $228,226,000. Berkshire Hathaway Inc purchased a new stake in Chubb during the 2nd quarter valued at about $11,670,067,000. BlackRock Inc. bought a new stake in Chubb during the 2nd quarter valued at about $9,913,336,000. Finally, GQG Partners LLC bought a new stake in Chubb during the 2nd quarter valued at about $4,250,113,000. 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.