Chubb (NYSE:CB) Hits New 52-Week High – Here’s Why

Chubb Limited (NYSE:CB)’s stock price reached a new 52-week high on Monday . The stock traded as high as $343.53 and last traded at $341.4630, with a volume of 622609 shares traded. The stock had previously closed at $340.86.

Analysts Set New Price Targets

CB has been the subject of several research reports. UBS Group reiterated a “neutral” rating and set a $340.00 price objective on shares of Chubb in a research note on Monday, February 9th. Jefferies Financial Group lifted their price target on Chubb from $326.00 to $333.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. HSBC increased their price objective on Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Evercore lifted their target price on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $340.81.

Chubb Price Performance

The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $315.97 and a 200 day moving average price of $295.86. The stock has a market capitalization of $135.00 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.17 and a beta of 0.49.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.Chubb’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.02 earnings per share. As a group, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.1%. Chubb’s dividend payout ratio (DPR) is currently 15.08%.

Insider Buying and Selling at Chubb

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the transaction, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Reflection Asset Management purchased a new stake in Chubb in the fourth quarter valued at $121,000. Clearwave Capital LLC acquired a new stake in shares of Chubb during the 4th quarter worth about $524,000. Wick Capital Partners LLC acquired a new stake in shares of Chubb during the 4th quarter worth about $650,000. Strategic Investment Solutions Inc. IL acquired a new position in Chubb in the fourth quarter valued at about $125,000. Finally, MidFirst Bank acquired a new position in Chubb in the fourth quarter valued at about $731,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.