Chubb (NYSE:CB) Director Michael Connors Sells 5,500 Shares of Stock

Key Points

• Director Michael Connors sold 5,500 Chubb shares at an average price of $345, generating approximately $1.90 million and reducing his ownership by 30.05% to 12,803 shares.
• Chubb’s stock recently traded at $342.90, while the company reported quarterly EPS of $7.26, beating estimates by $0.49; revenue increased 3.6% year over year.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $361.

Chubb Limited (NYSE:CB - Get Free Report) Director Michael Connors sold 5,500 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Chubb Stock Performance

CB stock traded down $2.93 during midday trading on Tuesday, hitting $342.90. The stock had a trading volume of 1,782,241 shares, compared to its average volume of 1,746,404. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $346.25 and a 200 day simple moving average of $333.69. The firm has a market capitalization of $132.29 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.65 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the previous year, the firm earned $6.14 EPS. Chubb's quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb's dividend payout ratio is currently 14.43%.

Hedge Funds Weigh In On Chubb

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in Chubb by 32,258.2% in the 2nd quarter. California State Teachers Retirement System now owns 184,618,043 shares of the financial services provider's stock valued at $62,906,752,000 after purchasing an additional 184,047,499 shares during the period. XXEC Inc. bought a new stake in shares of Chubb in the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc bought a new stake in Chubb in the 2nd quarter valued at about $11,670,067,000. BlackRock Inc. purchased a new stake in shares of Chubb during the 2nd quarter valued at approximately $9,913,336,000. Finally, GQG Partners LLC bought a new position in Chubb in the 2nd quarter worth about $4,250,113,000. Institutional investors own 83.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Mizuho upped their price objective on Chubb from $335.00 to $352.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Atlantic Securities set a $301.00 price target on Chubb in a research note on Wednesday, July 15th. UBS Group increased their price target on shares of Chubb from $340.00 to $369.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $340.00 to $370.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Finally, Evercore restated an "outperform" rating and set a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $361.00.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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