Chubb Ltd (NYSE:CB) announced a quarterly dividend on Thursday, February 22nd, RTT News reports. Stockholders of record on Thursday, March 29th will be given a dividend of 0.71 per share by the financial services provider on Friday, April 20th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.97%.
Chubb has raised its dividend by an average of 13.0% annually over the last three years and has increased its dividend annually for the last 52 consecutive years. Chubb has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chubb to earn $11.28 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 25.2%.
Chubb (NYSE CB) traded up $0.75 during trading hours on Thursday, hitting $144.47. 809,151 shares of the stock were exchanged, compared to its average volume of 1,924,414. Chubb has a twelve month low of $133.82 and a twelve month high of $157.50. The company has a market cap of $66,720.00, a PE ratio of 17.55, a P/E/G ratio of 1.35 and a beta of 0.95. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.23.
A number of research firms have recently weighed in on CB. Bank of America raised their price target on shares of Chubb from $168.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $153.00 target price on shares of Chubb in a research note on Sunday, October 29th. Zacks Investment Research upgraded shares of Chubb from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. UBS Group lifted their target price on shares of Chubb from $160.00 to $169.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, Citigroup lifted their target price on shares of Chubb from $167.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Chubb currently has a consensus rating of “Buy” and an average price target of $165.25.
In other Chubb news, insider Timothy Alan Boroughs sold 18,611 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the completion of the transaction, the insider now directly owns 201,165 shares of the company’s stock, valued at approximately $30,420,171.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 95,761 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the transaction, the chief executive officer now directly owns 1,367,229 shares of the company’s stock, valued at $199,013,853.24. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
Chubb announced that its board has authorized a share repurchase plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Chubb Company Profile
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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