Insider Selling: Chubb Limited (NYSE:CB) CEO Sells 30,537 Shares of Stock

Chubb Limited (NYSE:CB) CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Chubb Stock Down 2.3 %

Shares of NYSE:CB opened at $284.37 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $115.47 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 5.65 and a beta of 0.66. The company has a 50 day moving average of $270.98 and a 200-day moving average of $261.49. Chubb Limited has a one year low of $204.15 and a one year high of $294.18.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.92 EPS. On average, sell-side analysts forecast that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Hedge Funds Weigh In On Chubb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its position in shares of Chubb by 4.8% in the 4th quarter. Private Advisor Group LLC now owns 9,710 shares of the financial services provider’s stock valued at $2,194,000 after acquiring an additional 445 shares during the period. Gryphon Financial Partners LLC acquired a new position in Chubb during the fourth quarter valued at approximately $597,000. Envestnet Portfolio Solutions Inc. increased its stake in Chubb by 5.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 19,134 shares of the financial services provider’s stock valued at $4,324,000 after purchasing an additional 909 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Chubb by 1.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 43,281 shares of the financial services provider’s stock worth $9,782,000 after purchasing an additional 651 shares during the period. Finally, 1ST Source Bank boosted its position in shares of Chubb by 1.7% during the fourth quarter. 1ST Source Bank now owns 2,754 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Bank of America lifted their price target on shares of Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Barclays started coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Finally, Morgan Stanley decreased their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $274.70.

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.