Chubb (NYSE:CB) Shares Gap Down to $249.88

Chubb Limited (NYSE:CB)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $249.88, but opened at $240.57. Chubb shares last traded at $240.69, with a volume of 485,725 shares trading hands.

Wall Street Analyst Weigh In

CB has been the topic of a number of research reports. HSBC reiterated a “hold” rating and set a $270.00 target price (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Citigroup restated a “neutral” rating and set a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. JMP Securities restated a “market outperform” rating and set a $280.00 price target on shares of Chubb in a research note on Monday, April 15th. UBS Group boosted their price target on shares of Chubb from $245.00 to $256.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, StockNews.com upgraded shares of Chubb from a “hold” rating to a “buy” rating in a research note on Saturday, March 30th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $266.37.

Chubb Stock Down 3.1 %

The stock’s fifty day moving average is $252.64 and its two-hundred day moving average is $235.15. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $98.32 billion, a PE ratio of 11.01, a P/E/G ratio of 1.18 and a beta of 0.62.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.41 EPS. As a group, analysts predict that Chubb Limited will post 21.32 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s dividend payout ratio (DPR) is currently 15.76%.

Insider Buying and Selling

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider John J. Lupica sold 34,464 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the sale, the insider now directly owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now directly owns 6,105 shares in the company, valued at $1,495,969.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,043 shares of company stock valued at $29,766,694. 0.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

Institutional investors and hedge funds have recently modified their holdings of the company. Deutsche Bank AG grew its position in Chubb by 426.8% during the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after acquiring an additional 13,059,385 shares during the last quarter. Norges Bank bought a new position in Chubb during the fourth quarter valued at approximately $957,756,000. Confluence Investment Management LLC bought a new position in Chubb during the first quarter valued at approximately $165,932,000. Bank of Nova Scotia grew its position in Chubb by 198.8% during the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after acquiring an additional 518,535 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after acquiring an additional 495,860 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other 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.