Chubb Ltd (NYSE:CB) Short Interest Up 19.5% in October

Chubb Ltd (NYSE:CB) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 5,810,000 shares, an increase of 19.5% from the September 30th total of 4,860,000 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is currently 3.6 days.

Shares of CB traded down $0.96 during midday trading on Thursday, hitting $151.35. The stock had a trading volume of 1,417,257 shares, compared to its average volume of 1,539,760. Chubb has a 1 year low of $119.54 and a 1 year high of $162.44. The firm has a market cap of $68.58 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.46 and a beta of 0.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s 50 day moving average is $154.16 and its 200 day moving average is $151.79.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.06. Chubb had a net margin of 10.48% and a return on equity of 8.60%. The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the prior year, the firm posted $2.41 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that Chubb will post 10.38 earnings per share for the current fiscal year.

In related news, EVP Timothy Alan Boroughs sold 14,060 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $151.28, for a total transaction of $2,126,996.80. Following the sale, the executive vice president now owns 185,375 shares of the company’s stock, valued at $28,043,530. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael G. Atieh sold 1,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $151.12, for a total transaction of $226,680.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,060 shares of company stock worth $3,381,002. 0.47% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CB. Larson Financial Group LLC bought a new position in shares of Chubb in the third quarter worth about $26,000. Mcmillion Capital Management Inc. bought a new position in shares of Chubb in the second quarter worth about $27,000. JNBA Financial Advisors grew its holdings in shares of Chubb by 223.2% in the second quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 125 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of Chubb in the second quarter worth about $28,000. Finally, Liberty Wealth Management LLC grew its holdings in shares of Chubb by 176.5% in the third quarter. Liberty Wealth Management LLC now owns 188 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

A number of equities research analysts recently issued reports on CB shares. Wells Fargo & Co upped their price target on shares of Chubb from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. UBS Group upped their price target on shares of Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. William Blair reissued an “underperform” rating on shares of Chubb in a research note on Wednesday, October 30th. JMP Securities reissued an “outperform” rating on shares of Chubb in a research note on Thursday, July 25th. Finally, Evercore ISI began coverage on shares of Chubb in a research note on Thursday, October 17th. They issued an “in-line” rating and a $149.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Chubb presently has an average rating of “Hold” and an average target price of $158.73.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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