Short Interest in Chubb Limited (NYSE:CB) Rises By 22.3%

Chubb Limited (NYSE:CB) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,240,000 shares, an increase of 22.3% from the February 28th total of 2,650,000 shares. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.8% of the company’s shares are short sold.

Insider Activity at Chubb

In related news, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the transaction, the executive vice president now directly owns 78,422 shares in the company, valued at approximately $23,120,374.04. The trade was a 13.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares in the company, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chubb

Several institutional investors and hedge funds have recently modified their holdings of the stock. Continuum Advisory LLC boosted its holdings in shares of Chubb by 56.5% during the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after buying an additional 35 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Chubb during the third quarter worth approximately $29,000. Raelipskie Partnership acquired a new position in shares of Chubb in the third quarter valued at approximately $29,000. Sierra Ocean LLC acquired a new position in shares of Chubb in the fourth quarter valued at approximately $29,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of Chubb during the fourth quarter worth approximately $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of CB stock traded down $1.43 on Wednesday, reaching $299.97. The stock had a trading volume of 236,293 shares, compared to its average volume of 1,597,148. Chubb has a 12 month low of $238.85 and a 12 month high of $304.34. The firm has a market capitalization of $120.11 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 3.36 and a beta of 0.66. The firm’s 50-day moving average is $280.57 and its two-hundred day moving average is $281.60. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, research analysts expect that Chubb will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

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

Wall Street Analysts Forecast Growth

CB has been the subject of several research reports. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Barclays lowered their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a report on Wednesday, March 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $303.14.

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.