Chubb (NYSE:CB) Reaches New 1-Year High – Here’s What Happened
by Teresa Graham · The Cerbat GemChubb Limited (NYSE:CB – Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $316.04 and last traded at $315.7190, with a volume of 654661 shares changing hands. The stock had previously closed at $310.06.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Morgan Stanley set a $310.00 price objective on shares of Chubb in a report on Tuesday, December 16th. UBS Group lifted their price target on shares of Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. HSBC increased their price objective on Chubb from $302.00 to $304.00 in a research note on Wednesday, October 29th. Wolfe Research lifted their target price on Chubb from $336.00 to $364.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and an average price target of $311.90.
View Our Latest Stock Analysis on CB
Chubb Stock Up 1.6%
The business has a 50 day moving average of $298.16 and a two-hundred day moving average of $284.47. The stock has a market capitalization of $123.99 billion, a PE ratio of 13.15, a PEG ratio of 3.25 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27.
Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. The company had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.72 earnings per share. Analysts predict that Chubb Limited will post 21.52 EPS for the current year.
Chubb Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is presently 16.19%.
Insider Transactions at Chubb
In related news, EVP Timothy Alan Boroughs sold 10,580 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $296.17, for a total transaction of $3,133,478.60. Following the transaction, the executive vice president directly owned 12,660 shares of the company’s stock, valued at $3,749,512.20. This represents a 45.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the sale, the executive vice president owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. This trade represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 57,333 shares of company stock valued at $16,629,873. Corporate insiders own 0.77% of the company’s stock.
Hedge Funds Weigh In On Chubb
Several hedge funds and other institutional investors have recently modified their holdings of CB. Brighton Jones LLC lifted its stake in shares of Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Chubb in the fourth quarter worth about $205,000. Quarry LP acquired a new stake in shares of Chubb during the first quarter worth about $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Chubb by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,359 shares of the financial services provider’s stock valued at $12,487,000 after buying an additional 2,376 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC acquired a new position in Chubb in the 1st quarter worth approximately $213,000. 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.