Chubb (NYSE:CB) Stock: Insider Evan Greenberg Sells 13,889 Shares
by Renee Jackson · The Cerbat GemChubb Limited (NYSE:CB – Get Free Report) CEO Evan Greenberg sold 13,889 shares of the company’s stock in a transaction 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 owned 277,274 shares of the company’s stock, valued at approximately $99,824,185.48. This trade represents a 4.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Chubb Trading Down 0.6%
Shares of Chubb stock opened at $366.59 on Wednesday. Chubb Limited has a 1 year low of $279.98 and a 1 year high of $370.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $140.07 billion, a P/E ratio of 12.83, a PEG ratio of 1.71 and a beta of 0.29. The company’s fifty day moving average is $344.31 and its two-hundred day moving average is $334.43.
Chubb (NYSE:CB – Get Free Report) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The business had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $15.66 billion. During the same period in the prior year, the company earned $7.49 earnings per share. Analysts forecast that Chubb Limited will post 28.82 earnings per share for the current year.
Chubb Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s payout ratio is 14.28%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. XXEC Inc. acquired a new stake in Chubb during the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc acquired a new position in Chubb during the second quarter valued at approximately $11,670,067,000. BlackRock Inc. acquired a new position in Chubb during the second quarter valued at approximately $9,913,336,000. GQG Partners LLC purchased a new stake in Chubb during the second quarter worth approximately $4,250,113,000. Finally, Bank of America Corp DE purchased a new stake in Chubb during the second quarter worth approximately $1,545,084,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have commented on CB. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their target price on Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $333.00 target price on shares of Chubb in a report on Wednesday, October 21st. Piper Sandler upped their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company increased their price target on Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $362.78.
About Chubb
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.
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