Chubb Ltd (NYSE:CB) declared a quarterly dividend on Thursday, November 16th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 0.71 per share by the financial services provider on Friday, January 19th. This represents a $2.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, December 28th.
Chubb has increased its dividend by an average of 14.8% annually over the last three years and has increased its dividend every year for the last 51 years. Chubb has a payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chubb to earn $10.61 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 26.8%.
Chubb (NYSE CB) opened at $145.31 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb has a twelve month low of $127.15 and a twelve month high of $156.00. The company has a market capitalization of $67,400.00, a P/E ratio of 17.42, a P/E/G ratio of 2.05 and a beta of 0.95.
In other news, CEO Evan G. Greenberg sold 95,761 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value of $13,938,971.16. Following the completion of the sale, the chief executive officer now directly owns 1,367,229 shares of the company’s stock, valued at approximately $199,013,853.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 16,674 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $152.02, for a total value of $2,534,781.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,956 shares of company stock valued at $24,417,316. 0.43% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on CB. Credit Suisse Group reissued a “neutral” rating and set a $156.00 target price on shares of Chubb in a research report on Tuesday, December 19th. Goldman Sachs Group began coverage on Chubb in a research report on Monday, December 4th. They set a “buy” rating and a $167.00 target price on the stock. Wells Fargo & Co set a $169.00 target price on Chubb and gave the company a “buy” rating in a research report on Wednesday, November 29th. JPMorgan Chase & Co. raised Chubb from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $161.09.
Chubb announced that its board has initiated a share buyback program on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Chubb Company Profile
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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