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

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

Chubb Price Performance

CB traded up $1.07 on Friday, reaching $288.00. The stock had a trading volume of 1,779,628 shares, compared to its average volume of 1,609,926. Chubb has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The firm has a 50-day moving average of $287.84 and a 200-day moving average of $272.77. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $116.09 billion, a price-to-earnings 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 quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same quarter in the previous year, the company posted $4.95 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Chubb will post 21.66 EPS for the current year.

Insider Activity

In other news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. This trade represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Institutional investors and hedge funds have recently made changes to their positions in the business. Ironwood Investment Counsel LLC boosted its holdings in Chubb by 2.1% in the third quarter. Ironwood Investment Counsel LLC now owns 1,721 shares of the financial services provider’s stock worth $496,000 after acquiring an additional 35 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Chubb by 0.5% in the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 40 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in shares of Chubb by 1.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 40 shares during the last quarter. Finally, LVW Advisors LLC raised its stake in shares of Chubb by 0.3% in the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CB. Morgan Stanley increased their target price on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Roth Mkm increased their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their price target on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler increased their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.