Chubb (NYSE:CB) CEO Sells $5,000,317.78 in Stock

Key Points

• Chubb CEO Evan Greenberg sold 13,889 shares at an average price of $360.02, generating approximately $5.0 million. His remaining direct stake totals 277,274 shares, valued at about $99.8 million.
• Chubb reported stronger-than-expected quarterly results, with EPS of $7.66 versus the $6.77 consensus and revenue of $16.20 billion versus estimates of $15.66 billion.
• Shares recently traded near a record high at $369.25, while analysts maintained a consensus “Hold” rating with an average price target of $362.78. The company also pays a quarterly dividend of $1.02 per share, yielding approximately 1.1%.

Chubb Limited (NYSE:CB - Get Free Report) CEO Evan Greenberg sold 13,889 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the completion of the sale, the chief executive officer directly owned 277,274 shares in the company, valued at $99,824,185.48. This represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Chubb Price Performance

Chubb stock traded up $5.13 during mid-day trading on Monday, hitting $369.25. 1,416,446 shares of the company traded hands, compared to its average volume of 1,710,873. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a one year low of $273.35 and a one year high of $370.29. The stock has a market cap of $141.08 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.69 and a beta of 0.36. The stock has a fifty day moving average price of $343.33 and a 200-day moving average price of $333.76.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts' consensus estimates of $6.77 by $0.89. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter in the prior year, the firm earned $7.49 EPS. On average, equities analysts predict that Chubb Limited will post 28.82 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb's payout ratio is 14.28%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. IMG Wealth Management Inc. bought a new position in Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new stake in shares of Chubb during the second quarter valued at approximately $25,000. Parvin Asset Management LLC purchased a new stake in shares of Chubb during the second quarter valued at approximately $26,000. Highland Investment Advisors LLC purchased a new stake in shares of Chubb during the second quarter valued at approximately $26,000. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CB shares. Keefe, Bruyette & Woods reduced their price objective on Chubb from $389.00 to $387.00 and set an "outperform" rating on the stock in a research report on Monday, October 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $333.00 target price on shares of Chubb in a research note on Wednesday, October 21st. Weiss Ratings upgraded shares of Chubb from a "buy (b)" rating to a "buy (a)" rating in a research report on Friday, October 16th. HSBC reiterated a "hold" rating and set a $359.00 price target on shares of Chubb in a research report on Wednesday, October 7th. Finally, Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chubb has a consensus rating of "Hold" and a consensus price target of $362.78.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.