Michael G. Atieh Sells 716 Shares of Chubb Limited (NYSE:CB) Stock

Chubb Limited (NYSE:CB) Director Michael G. Atieh sold 716 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the transaction, the director now directly owns 39,295 shares in the company, valued at approximately $10,597,861.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Chubb Stock Up 0.9 %

NYSE:CB opened at $267.43 on Thursday. The firm has a market capitalization of $108.59 billion, a P/E ratio of 11.87, a PEG ratio of 1.25 and a beta of 0.63. The company’s fifty day moving average price is $253.50 and its 200-day moving average price is $241.11. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter last year, the business posted $4.41 EPS. The company’s revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts anticipate that Chubb Limited will post 21.21 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, June 14th. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is currently 15.27%.

Hedge Funds Weigh In On Chubb

A number of hedge funds have recently bought and sold shares of CB. Deutsche Bank AG boosted its holdings in Chubb by 426.8% in the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares during the last quarter. Norges Bank purchased a new stake in shares of Chubb during the fourth quarter worth approximately $957,756,000. Capital Research Global Investors raised its stake in Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares during the last quarter. Capital World Investors lifted its holdings in Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in Chubb during the 1st quarter worth $165,932,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Roth Mkm restated a “buy” rating and set a $280.00 price target on shares of Chubb in a research note on Wednesday, April 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research report on Monday, April 1st. UBS Group increased their price objective 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. Raymond James boosted their price objective on shares of Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. Finally, Evercore ISI increased their target price on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.74.

About Chubb

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.