Chubb Limited (NYSE:CB) Director Michael Corbat Buys 425 Shares

Key Points

• Michael Corbat, a director at Chubb Limited, acquired 425 shares of the company at an average price of $269.80, increasing his total holdings by 20.99% to 2,450 shares.
• Chubb recently reported a strong quarterly earnings performance, with $6.14 EPS, exceeding estimates by $0.30 and showing a 6.3% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.97 per share, representing an increase from the previous $0.91, with a current dividend yield of 1.46%.

Chubb Limited (NYSE:CB - Get Free Report) Director Michael Corbat bought 425 shares of the business's stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Chubb Stock Down 0.3%

NYSE:CB traded down $0.75 on Friday, hitting $265.29. 873,630 shares of the company's stock traded hands, compared to its average volume of 1,805,350. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm has a 50-day moving average price of $282.61 and a 200-day moving average price of $282.34. The company has a market cap of $105.77 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company earned $5.38 EPS. The firm's revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb declared that its Board of Directors has initiated a share buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a $0.97 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is 17.12%.

Hedge Funds Weigh In On Chubb

Hedge funds have recently modified their holdings of the stock. Peoples Bank KS acquired a new position in shares of Chubb in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Chubb during the 1st quarter worth approximately $25,000. North Capital Inc. acquired a new position in Chubb during the 1st quarter worth $26,000. IMA Advisory Services Inc. acquired a new position in Chubb during the 1st quarter worth $31,000. Finally, 1248 Management LLC acquired a new position in Chubb during the 1st quarter worth $31,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on CB. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research note on Tuesday, May 20th. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $300.00 price target on the stock. in a research report on Friday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of "Hold" and an average target price of $301.50.

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.