Chubb (NYSE:CB) Hits New 1-Year High – What’s Next?

Chubb Limited (NYSE:CB)’s stock price reached a new 52-week high during trading on Thursday. The company traded as high as $379.03 and last traded at $379.1520, with a volume of 2,659 shares traded. The stock had previously closed at $374.17.

Analyst Upgrades and Downgrades

CB has been the topic of several recent research reports. TD Cowen lifted their price objective on shares of Chubb from $360.00 to $379.00 and gave the stock a “hold” rating in a research note on Wednesday, October 28th. HSBC restated a “hold” rating and set a $359.00 price target on shares of Chubb in a research note on Wednesday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $333.00 price target on shares of Chubb in a research report on Wednesday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Chubb from $371.00 to $374.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Finally, Wells Fargo & Company raised their target price on shares of Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chubb presently has an average rating of “Hold” and an average target price of $362.78.

Chubb Price Performance

The company has a market capitalization of $139.49 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 1.71 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s 50-day moving average is $346.04 and its 200-day moving average is $335.48.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, beating the consensus estimate of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. During the same quarter in the previous year, the company earned $7.49 EPS. Analysts predict that Chubb Limited will post 28.89 EPS for the current fiscal 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 dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb’s dividend payout ratio is currently 14.28%.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 13,889 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the transaction, the chief executive officer directly owned 277,274 shares in the company, valued at approximately $99,824,185.48. This represents a 4.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Connors sold 5,500 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,985 shares of company stock valued at $11,748,463 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chubb

A number of hedge funds have recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in Chubb during the second quarter valued at approximately $25,000. Dunhill Financial LLC bought a new position in Chubb in the 2nd quarter worth approximately $25,000. Parvin Asset Management LLC purchased a new position in shares of Chubb during the second quarter valued at $26,000. Highland Investment Advisors LLC purchased a new position in Chubb in the second quarter valued at $26,000. Finally, Frazier Financial Advisors LLC boosted its stake in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions.

The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.

Chubb’s current corporate history dates to 2016, when ACE Limited acquired The Chubb Corporation and adopted the Chubb name.