Chubb Ltd (CB) was Downgraded by Atlantic Equities to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Atlantic Equities advised their investors in a research report released on Jun 16, 2016.
Many Wall Street Analysts have commented on Chubb Ltd. Company shares were Reiterated by RBC Capital Mkts on Apr 14, 2016 to “Outperform”, Firm has raised the Price Target to $ 128 from a previous price target of $120 .
On the company’s financial health, Chubb Ltd reported $2.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 4, 2016. Analyst had a consensus of $2.17. The company had revenue of $5995.00 million for the quarter, compared to analysts expectations of $6381.25 million. The company’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.
Chubb Ltd closed down -0.13 points or -0.10% at $124.25 with 13,69,500 shares getting traded on Wednesday. Post opening the session at $124.93, the shares hit an intraday low of $124.1 and an intraday high of $125.44 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Investors should note that on May 19, 2016, Chubb Ltd announced a cash dividend of $0.6900. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 21, 2016.
In a different news, on Jun 3, 2016, Philip V Bancroft (Executive Vice President*) sold 72,730 shares at $127.30 per share price. According to the SEC, on May 25, 2016, Evan G Greenberg (Chairman & CEO) sold 39,943 shares at $125.36 per share price. On May 12, 2016, Timothy Alan Boroughs (Executive Vice Chairman*) sold 14,470 shares at $124.75 per share price, according to the Form-4 filing with the securities and exchange commission.
Chubb Ltd formerly ACE Ltd is a Switzerland-based insurance and reinsurance company. The Company offers commercial and personal property and casualty insurance personal accident and supplemental health insurance travel accident insurance specialty coverage insurances recreational marine and aviation insurance agricultural insurance as well as reinsurance and life insurance. It mainly serves multinational companies small and medium-sized enterprises as well as high net worth individuals. The Company maintains executive offices in Zurich New York and London among others and is present in Latin America North America Asia Europe and Africa. It came into being from a merger of ACE Ltd and Chubb Corp.