Chubb (NYSE:CB) Price Target Raised to $305.00

Chubb (NYSE:CB) had its price target lifted by Keefe, Bruyette & Woods from $304.00 to $305.00 in a research note released on Monday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler reissued an overweight rating and issued a $282.00 price objective on shares of Chubb in a report on Monday, April 1st. HSBC reissued a hold rating and issued a $270.00 price objective (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Roth Mkm upped 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. JMP Securities upped their price target on Chubb from $280.00 to $300.00 and gave the stock a market outperform rating in a report on Wednesday, July 24th. Finally, Bank of America upped their price target on Chubb from $257.00 to $264.00 and gave the stock a neutral rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chubb currently has an average rating of Hold and an average target price of $270.79.

Chubb Stock Performance

Shares of CB opened at $271.95 on Monday. The stock has a market cap of $110.43 billion, a P/E ratio of 12.07, a P/E/G ratio of 5.30 and a beta of 0.66. The stock has a 50-day moving average of $262.75 and a two-hundred day moving average of $254.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.31. Chubb has a one year low of $198.10 and a one year high of $277.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.92 EPS. As a group, research analysts predict that Chubb will post 21.15 EPS for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a dividend of $0.91 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, June 14th. Chubb’s payout ratio is 16.16%.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at $11,648,059.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The disclosure for this sale can be found here. In the last three months, insiders sold 47,552 shares of company stock worth $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb in the first quarter valued at $25,000. Beacon Capital Management LLC increased its holdings in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Chilton Capital Management LLC purchased a new position in Chubb in the second quarter valued at $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Chubb in the fourth quarter valued at $29,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Chubb during the first quarter worth about $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.