UBS Group Boosts Chubb (NYSE:CB) Price Target to $156.00

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Chubb (NYSE:CB) had its price objective lifted by UBS Group from $154.00 to $156.00 in a research note released on Wednesday morning, Stock Target Advisor reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Morgan Stanley set a $60.00 price target on shares of Berry Global Group and gave the company a hold rating in a research report on Wednesday, April 17th. Sandler O’Neill upgraded shares of Independent Bank from a hold rating to a buy rating in a research report on Wednesday, April 3rd. Barclays set a $34.00 price target on shares of DCP Midstream and gave the company a hold rating in a research report on Wednesday, May 22nd. Finally, Compass Point cut shares of Chubb from a buy rating to a neutral rating and dropped their price objective for the company from $165.00 to $156.00 in a report on Wednesday, May 29th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $148.90.

Shares of CB opened at $149.37 on Wednesday. Chubb has a 1-year low of $119.54 and a 1-year high of $152.00. The firm has a market capitalization of $68.13 billion, a PE ratio of 15.82, a PEG ratio of 1.42 and a beta of 0.72. The company’s 50-day moving average is $148.54. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. Chubb had a net margin of 11.55% and a return on equity of 8.76%. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.55 billion. During the same period last year, the business earned $2.34 earnings per share. Equities analysts forecast that Chubb will post 10.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were issued a $0.75 dividend. The ex-dividend date was Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Chubb’s previous quarterly dividend of $0.73. Chubb’s payout ratio is 31.78%.

In other Chubb news, CAO Paul Bennett Medini sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $145.52, for a total transaction of $400,180.00. Following the completion of the transaction, the chief accounting officer now owns 91,659 shares in the company, valued at approximately $13,338,217.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 215,648 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total transaction of $32,097,048.32. Following the transaction, the chief executive officer now owns 1,002,730 shares of the company’s stock, valued at approximately $149,246,333.20. The disclosure for this sale can be found here. Insiders sold 342,146 shares of company stock valued at $50,781,622 in the last 90 days. Company insiders own 0.47% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC lifted its position in shares of Chubb by 100.6% during the 1st quarter. WCM Investment Management LLC now owns 14,039,350 shares of the financial services provider’s stock worth $1,966,632,000 after buying an additional 7,040,520 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Chubb by 29.9% during the 4th quarter. Bank of America Corp DE now owns 13,576,704 shares of the financial services provider’s stock worth $1,753,839,000 after buying an additional 3,125,070 shares during the last quarter. Norges Bank purchased a new stake in shares of Chubb during the 4th quarter worth approximately $386,675,000. California Public Employees Retirement System lifted its position in shares of Chubb by 18.0% during the 1st quarter. California Public Employees Retirement System now owns 2,697,234 shares of the financial services provider’s stock worth $377,829,000 after buying an additional 412,064 shares during the last quarter. Finally, CI Investments Inc. purchased a new stake in shares of Chubb during the 4th quarter worth approximately $52,909,000. Institutional investors own 89.00% of the company’s stock.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Analyst Recommendations for Chubb (NYSE:CB)

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