Market Update: The Chubb Corporation (NYSE:CB) – Chubb Shareholders Approve 23rd Consecutive Annual Dividend Increase; Board Declares Record Date for First Dividend Installment; All Other Shareholder Proposals Approved

[PR Newswire] – ZURICH, May 19, 2016 /PRNewswire/ — The Board of Directors of Chubb Limited (CB) announced today its shareholders have approved all matters submitted to the Chubb Limited 2016 Annual General Meeting, held at the company’s offices in Zurich, Switzerland, including a 3% increase in the company’s dividend to $2.76 annually ($0.69 per quarter) from $2.68 ($0.67 per quarter). The dividend will be payable out of legal reserves in four quarterly installments and will be made in U.S. dollars by the company’s transfer agent, as described in the Chubb Limited proxy statement. The company’s Board of Directors declared that shareholders of record at the close of business on June 30, 2016, will be entitled to payment of the first installment on July 21, 2016. Chubb is the world’s largest publicly traded property and casualty insurance company. Read more on this. Chubb Limited (CB) , currently valued at $57.72B, opened this morning at $124.94. Today, shares have traded between $124.08 and $125.05 per share with its 52-week range being $96.00 to $126.06. Chubb (CB) shares are currently priced at 12.65x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.31x earnings multiple for the same period. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $2.43 per share, which would be $0.03 better than the year-ago quarter and a $0.11 sequential decrease. The full-year EPS estimate is $9.81, which would be a $0.05 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.53 Billion. If realized, that would be a 75.93% increase over the year-ago quarter. More recently, Sandler O’Neill upgraded CB from Hold to Buy (Jan 27, 2016). Previously, Bernstein upgraded CB from Mkt Perform to Outperform. The average price target for CB shares by the analysts covering the stock is $131.57, which is 5.31% above where the stock opened this morning. See more in (NYSE:CB) Similar Articles: Stock Update: The Chubb Corporation (NYSE:CB) – Mark James to Lead Chubb’s North America Marine Operations Stock Update: The Chubb Corporation (NYSE:CB) – Chubb Announces Retirement of Robert C. Cox, Division Chairman, North America Financial Lines Stock Update (NYSE:CB): Chubb Limited Board Will Recommend 23rd Consecutive Annual Dividend Increase To Shareholders at 2016 Annual General Meeting; Declares First Quarter Dividend