Chubb (NYSE:CB) Reaches New 12-Month High – Here’s What Happened

Chubb Limited (NYSE:CB)’s share price reached a new 52-week high on Monday . The company traded as high as $302.98 and last traded at $301.66, with a volume of 401544 shares trading hands. The stock had previously closed at $296.44.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CB. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Barclays lowered their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $301.00.

Chubb Stock Performance

The company has a market cap of $120.71 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock’s fifty day simple moving average is $279.26 and its two-hundred day simple moving average is $281.41.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.21%. Chubb’s dividend payout ratio is currently 16.02%.

Insider Activity

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. The trade was a 33.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the sale, the executive vice president now owns 78,422 shares in the company, valued at approximately $23,120,374.04. This represents a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Chubb by 57.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 356,602 shares of the financial services provider’s stock valued at $102,840,000 after buying an additional 130,629 shares in the last quarter. Czech National Bank raised its holdings in shares of Chubb by 6.2% during the 4th quarter. Czech National Bank now owns 81,282 shares of the financial services provider’s stock valued at $22,458,000 after purchasing an additional 4,757 shares in the last quarter. Barclays PLC lifted its stake in shares of Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after purchasing an additional 388,746 shares during the last quarter. Weiss Asset Management LP bought a new stake in Chubb in the third quarter worth $27,424,000. Finally, Versant Capital Management Inc increased its position in Chubb by 133.9% during the fourth quarter. Versant Capital Management Inc now owns 552 shares of the financial services provider’s stock worth $153,000 after buying an additional 316 shares during the last quarter. 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.