Chubb Limited (NYSE:CB) Short Interest Down 20.2% in October

Chubb Limited (NYSE:CB) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,440,000 shares, a decrease of 20.2% from the October 15th total of 4,310,000 shares. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is currently 2.3 days. Approximately 0.9% of the company’s shares are short sold.

Chubb Stock Up 0.4 %

NYSE:CB traded up $1.07 on Friday, hitting $288.00. 1,779,628 shares of the company’s stock traded hands, compared to its average volume of 1,609,926. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb has a 1 year low of $216.90 and a 1 year high of $302.05. The firm has a 50-day moving average price of $287.84 and a 200-day moving average price of $272.77. The company has a market cap of $116.09 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 6.64 and a beta of 0.67.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same quarter in the previous year, the business posted $4.95 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts anticipate that Chubb will post 21.66 EPS for the current fiscal year.

Insider Buying and Selling at Chubb

In related news, EVP Joseph F. Wayland sold 6,599 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total value of $1,894,308.94. Following the transaction, the executive vice president now owns 84,101 shares in the company, valued at approximately $24,142,033.06. This trade represents a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. The trade was a 5.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,636 shares of company stock worth $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Several institutional investors have recently made changes to their positions in the company. Capital Research Global Investors increased its position in Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after buying an additional 2,064,730 shares during the period. FMR LLC increased its position in Chubb by 7.3% in the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after buying an additional 1,052,999 shares during the period. International Assets Investment Management LLC increased its position in Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after buying an additional 931,841 shares during the period. Assenagon Asset Management S.A. increased its position in Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after buying an additional 826,700 shares during the period. Finally, Capital World Investors increased its position in Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CB. Evercore ISI increased their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Roth Mkm raised their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays initiated coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $287.37.

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.