Chubb Ltd (CB) Director Sells $159,924.00 in Stock

Chubb Ltd (NYSE:CB) Director Michael G. Atieh sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $133.27, for a total transaction of $159,924.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CB stock opened at $133.74 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Ltd has a fifty-two week low of $120.50 and a fifty-two week high of $157.50. The company has a market cap of $61.63 billion, a P/E ratio of 16.66, a PEG ratio of 1.34 and a beta of 1.01.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.02. Chubb had a net margin of 15.37% and a return on equity of 9.71%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.63 billion. During the same period in the prior year, the firm earned ($0.13) earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that Chubb Ltd will post 9.98 EPS for the current year.

Chubb announced that its board has authorized a share buyback program on Thursday, November 15th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 21st will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.18%. Chubb’s payout ratio is 36.36%.

A number of brokerages have issued reports on CB. Deutsche Bank lowered shares of Chubb from a “hold” rating to a “sell” rating and cut their price target for the stock from $135.00 to $126.00 in a research note on Monday, August 13th. Citigroup cut their price target on shares of Chubb from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, October 25th. Wells Fargo & Co reiterated a “buy” rating on shares of Chubb in a research note on Wednesday, August 8th. Credit Suisse Group began coverage on shares of Chubb in a research note on Tuesday, August 7th. They set a “neutral” rating and a $150.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of Chubb from $166.00 to $153.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Chubb currently has an average rating of “Hold” and a consensus target price of $158.00.

Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC bought a new stake in shares of Chubb in the second quarter valued at approximately $240,000. Dupont Capital Management Corp boosted its stake in shares of Chubb by 82.4% in the second quarter. Dupont Capital Management Corp now owns 5,694 shares of the financial services provider’s stock valued at $723,000 after buying an additional 2,573 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Chubb by 2.6% in the second quarter. Daiwa Securities Group Inc. now owns 18,029 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 449 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Chubb by 1.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 35,028 shares of the financial services provider’s stock valued at $4,449,000 after buying an additional 453 shares during the period. Finally, Bainco International Investors boosted its stake in shares of Chubb by 0.7% in the second quarter. Bainco International Investors now owns 73,032 shares of the financial services provider’s stock valued at $9,286,000 after buying an additional 480 shares during the period. Hedge funds and other institutional investors own 87.61% of the company’s stock.

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About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

Further Reading: Why do company’s buyback their stock?

Insider Buying and Selling by Quarter for Chubb (NYSE:CB)

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