Chubb (NYSE:CB) Shares Down 3.6% – Here’s What Happened

Chubb Limited (NYSE:CB) fell 3.6% during trading on Monday . The company traded as low as $279.89 and last traded at $280.18. 302,907 shares changed hands during trading, a decline of 81% from the average session volume of 1,624,808 shares. The stock had previously closed at $290.59.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Roth Mkm upped their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler upped their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada lifted their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, JMP Securities raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus target price of $280.22.

Chubb Trading Down 5.1 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $111.98 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. The company’s 50 day simple moving average is $281.24 and its two-hundred day simple moving average is $265.87.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.92 earnings per share. Research analysts expect that Chubb Limited will post 21.21 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is presently 16.16%.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock valued at $24,874,208 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Chubb

Hedge funds have recently added to or reduced their stakes in the business. Beacon Capital Management LLC grew its stake in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Chubb in the first quarter valued at about $25,000. Chilton Capital Management LLC acquired a new stake in Chubb during the second quarter worth about $26,000. Wellington Shields Capital Management LLC bought a new position in Chubb during the first quarter valued at about $29,000. Finally, Kimelman & Baird LLC acquired a new position in Chubb in the 2nd quarter valued at approximately $32,000. Institutional investors own 83.81% of the company’s stock.

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.