Chubb (NYSE:CB) Trading Up 8.9%
Chubb Ltd (NYSE:CB) shares were up 8.9% during trading on Tuesday . The company traded as high as $102.93 and last traded at $102.56, approximately 3,521,140 shares were traded during mid-day trading. An increase of 51% from the average daily volume of 2,336,356 shares. The stock had previously closed at $94.20.
A number of analysts have commented on CB shares. Atlantic Securities upgraded Chubb from an “underweight” rating to a “neutral” rating and set a $130.00 price target for the company in a research report on Tuesday. Goldman Sachs Group lowered Chubb from a “neutral” rating to a “sell” rating and dropped their price target for the company from $159.00 to $147.00 in a research note on Tuesday, January 7th. Wells Fargo & Co increased their price target on Chubb from $180.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. TheStreet lowered Chubb from a “b” rating to a “c+” rating in a research note on Monday. Finally, Citigroup started coverage on Chubb in a research note on Tuesday, January 21st. They set a “neutral” rating and a $154.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $159.85.
The business has a 50 day moving average of $143.14 and a 200 day moving average of $151.41. The company has a market capitalization of $42.69 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.25.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.95%. Chubb’s dividend payout ratio is presently 29.67%.
In other news, CAO Paul Bennett Medini sold 3,982 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $163.41, for a total value of $650,698.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore Shasta acquired 2,000 shares of the stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average cost of $99.74 per share, with a total value of $199,480.00. Following the transaction, the director now directly owns 16,375 shares in the company, valued at $1,633,242.50. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CB. Roffman Miller Associates Inc. PA lifted its holdings in shares of Chubb by 2.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 80,852 shares of the financial services provider’s stock valued at $12,585,000 after buying an additional 2,054 shares during the period. Fieldpoint Private Securities LLC lifted its holdings in Chubb by 8.9% in the fourth quarter. Fieldpoint Private Securities LLC now owns 6,581 shares of the financial services provider’s stock valued at $1,024,000 after acquiring an additional 539 shares during the last quarter. First Command Bank lifted its holdings in Chubb by 12.9% in the fourth quarter. First Command Bank now owns 1,447 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 165 shares during the last quarter. Berkeley Capital Partners LLC lifted its holdings in Chubb by 4.3% in the fourth quarter. Berkeley Capital Partners LLC now owns 2,293 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 95 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Chubb by 82.7% in the third quarter. Global Retirement Partners LLC now owns 7,228 shares of the financial services provider’s stock valued at $1,167,000 after acquiring an additional 3,271 shares during the last quarter. 88.83% of the stock is owned by institutional investors.
About Chubb (NYSE:CB)
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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