Chubb Limited (NYSE:CB) Sees Large Drop in Short Interest

Chubb Limited (NYSE:CB) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 2,360,000 shares, a drop of 7.5% from the March 15th total of 2,550,000 shares. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CB shares. Morgan Stanley lifted their target price on Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday. Wells Fargo & Company boosted their price target on Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upped their target price on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $280.00 target price on shares of Chubb in a research note on Monday. Finally, BMO Capital Markets increased their price target on Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research note on Monday, February 5th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chubb presently has a consensus rating of “Moderate Buy” and an average target price of $266.37.

Chubb Stock Performance

NYSE CB traded down $2.61 during trading hours on Wednesday, reaching $242.60. The company’s stock had a trading volume of 937,155 shares, compared to its average volume of 1,707,661. The business has a 50-day simple moving average of $252.50 and a 200 day simple moving average of $233.73. Chubb has a 52 week low of $183.71 and a 52 week high of $260.58. The stock has a market cap of $98.49 billion, a PE ratio of 11.23, a PEG ratio of 1.16 and a beta of 0.62. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $8.30 EPS for the quarter, beating analysts’ consensus estimates of $5.07 by $3.23. The business had revenue of $13.38 billion for the quarter, compared to analyst estimates of $12.88 billion. Chubb had a net margin of 18.11% and a return on equity of 16.45%. Equities research analysts predict that Chubb will post 21.15 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s dividend payout ratio is 15.76%.

Insider Activity

In other Chubb news, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the sale, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chubb news, insider John J. Lupica sold 34,464 shares of Chubb stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the sale, the insider now directly owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The disclosure for this sale can be found here. Insiders have sold a total of 116,043 shares of company stock worth $29,766,694 over the last quarter. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chubb

A number of institutional investors have recently modified their holdings of CB. Americana Partners LLC bought a new position in Chubb in the 3rd quarter worth $292,000. Lazard Asset Management LLC raised its holdings in Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after acquiring an additional 495,860 shares during the period. Alphinity Investment Management Pty Ltd raised its holdings in Chubb by 155.8% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after acquiring an additional 324,019 shares during the period. Graypoint LLC raised its holdings in Chubb by 1,275.7% in the 4th quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after acquiring an additional 29,302 shares during the period. Finally, BKM Wealth Management LLC bought a new position in Chubb in the 4th quarter worth $1,403,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

About Chubb

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.