Chubb Ltd (NYSE:CB) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 6,467,000 shares, a decrease of 14.2% from the May 15th total of 7,540,100 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average trading volume of 1,360,000 shares, the short-interest ratio is currently 4.8 days.
A number of equities research analysts recently issued reports on the company. Barclays set a $34.00 price target on DCP Midstream and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Zacks Investment Research downgraded Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Morgan Stanley set a $60.00 target price on Berry Global Group and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, Atlantic Securities cut Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 target price for the company. in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Chubb presently has a consensus rating of “Hold” and a consensus target price of $148.90.
In other news, insider Paul J. Krump sold 3,450 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.00, for a total value of $500,250.00. Following the transaction, the insider now owns 139,160 shares of the company’s stock, valued at $20,178,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 215,648 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $148.84, for a total value of $32,097,048.32. Following the completion of the transaction, the chief executive officer now directly owns 1,002,730 shares in the company, valued at approximately $149,246,333.20. The disclosure for this sale can be found here. Insiders have sold 342,146 shares of company stock worth $50,781,622 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.
Shares of CB opened at $149.37 on Friday. Chubb has a one year low of $119.54 and a one year high of $152.00. The firm has a market cap of $68.39 billion, a P/E ratio of 15.82, a PEG ratio of 1.43 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a 50-day moving average price of $148.54.
Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.05. Chubb had a net margin of 11.55% and a return on equity of 8.76%. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.55 billion. During the same quarter last year, the firm earned $2.34 EPS. Equities research analysts predict that Chubb will post 10.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 21st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $3.00 annualized dividend and a dividend yield of 2.01%. This is a boost from Chubb’s previous quarterly dividend of $0.73. Chubb’s dividend payout ratio (DPR) is currently 31.78%.
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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