JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its price objective lifted by JPMorgan Chase & Co. from $296.00 to $300.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

CB has been the topic of a number of other reports. Morgan Stanley raised their target price on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group upped their target price on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Bank of America lifted their price objective on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $288.39.

Chubb Trading Up 1.4 %

Shares of NYSE CB opened at $276.05 on Wednesday. The business’s 50 day moving average price is $275.77 and its 200-day moving average price is $279.22. Chubb has a fifty-two week low of $238.85 and a fifty-two week high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $111.27 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 7.23 and a beta of 0.67.

Chubb (NYSE:CB) last released its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 15.46% and a net margin of 18.32%. On average, sell-side analysts expect that Chubb will post 21.95 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a $0.91 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.32%. Chubb’s payout ratio is 14.91%.

Institutional Trading of Chubb

Institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of Chubb by 7.3% in the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after purchasing an additional 1,052,999 shares during the period. International Assets Investment Management LLC lifted its stake in Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after buying an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after buying an additional 826,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after buying an additional 389,343 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after acquiring an additional 388,746 shares during the last quarter. 83.81% of the stock is 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.