Chubb (NYSE:CB) Shares Gap Down to $249.88

Shares of Chubb Limited (NYSE:CB) gapped down before the market opened on Wednesday . The stock had previously closed at $249.88, but opened at $240.57. Chubb shares last traded at $240.69, with a volume of 485,725 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CB shares. TD Cowen started coverage on Chubb in a report on Wednesday, January 10th. They set a “market perform” rating and a $254.00 price target on the stock. Raymond James boosted their target price on Chubb from $270.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Citigroup restated a “neutral” rating and issued a $275.00 target price (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Royal Bank of Canada boosted their target price on Chubb from $255.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, The Goldman Sachs Group upped their price target on Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $266.37.

Chubb Stock Down 3.1 %

The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The firm has a market cap of $98.32 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.18 and a beta of 0.62. The firm has a 50-day moving average of $252.64 and a two-hundred day moving average of $235.15.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the firm earned $4.41 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Chubb Limited will post 21.32 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.42%. Chubb’s dividend payout ratio (DPR) is 15.76%.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the transaction, the executive vice president now owns 35,662 shares of the company’s stock, valued at approximately $9,228,612.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the transaction, the executive vice president now owns 35,662 shares of the company’s stock, valued at approximately $9,228,612.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares in the company, valued at $1,495,969.20. The disclosure for this sale can be found here. Insiders sold a total of 116,043 shares of company stock valued at $29,766,694 in the last quarter. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Several large investors have recently modified their holdings of CB. ZRC Wealth Management LLC bought a new stake in Chubb during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in Chubb during the 4th quarter worth approximately $29,000. Tennessee Valley Asset Management Partners bought a new stake in Chubb during the 4th quarter worth approximately $32,000. Northwest Financial Advisors bought a new stake in Chubb during the 4th quarter worth approximately $33,000. Finally, Naples Money Management LLC bought a new stake in Chubb during the 4th quarter worth approximately $34,000. 83.81% of the stock is currently owned by institutional investors.

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.