Chubb Ltd (NYSE:CB) declared a quarterly dividend on Thursday, August 8th, RTT News reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.75 per share by the financial services provider on Friday, October 11th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.93%.
Chubb has raised its dividend by an average of 9.2% per year over the last three years and has raised its dividend every year for the last 53 years. Chubb has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chubb to earn $11.11 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 27.0%.
Shares of CB stock traded up $1.33 during trading hours on Thursday, reaching $155.48. 240,862 shares of the company were exchanged, compared to its average volume of 1,531,907. Chubb has a fifty-two week low of $119.54 and a fifty-two week high of $155.21. The business has a fifty day moving average price of $149.92. The firm has a market cap of $67.67 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 0.32.
In related news, EVP Timothy Alan Boroughs sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $148.64, for a total transaction of $3,716,000.00. Following the completion of the sale, the executive vice president now directly owns 171,315 shares of the company’s stock, valued at $25,464,261.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 215,648 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total transaction of $32,097,048.32. Following the sale, the chief executive officer now directly owns 1,002,730 shares of the company’s stock, valued at $149,246,333.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 338,821 shares of company stock valued at $50,324,287. 0.47% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Chubb from $156.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Barclays upped their target price on shares of Chubb from $160.00 to $167.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Compass Point lowered shares of Chubb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. ValuEngine lowered shares of Chubb from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Raymond James reiterated a “strong-buy” rating and set a $160.00 target price (up from $150.00) on shares of Chubb in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Chubb has a consensus rating of “Hold” and an average target price of $150.55.
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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