Chubb Ltd (NYSE:CB) Short Interest Up 20.5% in July

Chubb Ltd (NYSE:CB) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 5,881,300 shares, a growth of 20.5% from the June 30th total of 4,880,500 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is presently 3.9 days.

A number of research firms have weighed in on CB. ValuEngine lowered Chubb from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Atlantic Securities lowered Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price objective for the company. in a report on Thursday, June 20th. Raymond James reissued a “strong-buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Chubb in a report on Friday, July 5th. Finally, Morgan Stanley boosted their price objective on Chubb from $154.00 to $163.00 and gave the stock an “equal weight” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $153.00.

In other Chubb news, insider Paul J. Krump sold 5,000 shares of Chubb stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $155.00, for a total transaction of $775,000.00. Following the completion of the transaction, the insider now owns 118,865 shares of the company’s stock, valued at approximately $18,424,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 6,000 shares of Chubb stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $158.15, for a total value of $948,900.00. Following the transaction, the insider now directly owns 168,037 shares of the company’s stock, valued at approximately $26,575,051.55. The disclosure for this sale can be found here. Insiders have sold a total of 355,821 shares of company stock worth $53,008,187 over the last quarter. Company insiders own 0.47% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Stonebridge Capital Advisors LLC purchased a new stake in shares of Chubb in the second quarter worth $56,000. Nuveen Asset Management LLC grew its stake in shares of Chubb by 37,306.0% in the second quarter. Nuveen Asset Management LLC now owns 4,848,945 shares of the financial services provider’s stock worth $714,201,000 after acquiring an additional 4,835,982 shares during the last quarter. Wealth & Pension Services Group Inc. grew its stake in shares of Chubb by 3.9% in the second quarter. Wealth & Pension Services Group Inc. now owns 2,306 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 87 shares during the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of Chubb by 21.1% in the second quarter. Peapack Gladstone Financial Corp now owns 12,175 shares of the financial services provider’s stock worth $1,793,000 after acquiring an additional 2,121 shares during the last quarter. Finally, Andra AP fonden grew its stake in shares of Chubb by 3.7% in the second quarter. Andra AP fonden now owns 45,000 shares of the financial services provider’s stock worth $6,628,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

CB stock traded up $1.00 during midday trading on Thursday, hitting $153.69. The company had a trading volume of 58,687 shares, compared to its average volume of 1,777,081. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. Chubb has a 52 week low of $119.54 and a 52 week high of $160.23. The firm has a 50 day moving average price of $151.07. The company has a market capitalization of $69.83 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.72.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that Chubb will post 10.4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $3.00 annualized dividend and a yield of 1.95%. Chubb’s payout ratio is currently 31.78%.

Chubb Company Profile

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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