Chubb (NYSE:CB) PT Raised to $264.00

Chubb (NYSE:CB) had its price target raised by equities researchers at Bank of America from $257.00 to $264.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 0.90% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CB. Keefe, Bruyette & Woods cut their price objective on shares of Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Chubb in a research report on Friday, June 28th. JMP Securities upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chubb has an average rating of “Hold” and an average target price of $270.05.

Chubb Stock Performance

Shares of NYSE CB opened at $261.65 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The stock’s fifty day moving average price is $262.11 and its two-hundred day moving average price is $253.11. Chubb has a one year low of $198.10 and a one year high of $275.41. The firm has a market cap of $106.24 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 6.16 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.94% and a net margin of 18.14%. The firm had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same period in the prior year, the firm posted $4.92 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts forecast that Chubb will post 20.95 EPS for the current year.

Insider Activity

In other news, EVP Juan Luis Ortega sold 2,400 shares of the company’s 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 owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock valued at $12,149,985 over the last quarter. 0.86% of the stock is owned by company insiders.

Institutional Trading of Chubb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bard Financial Services Inc. increased its position in Chubb by 3.7% during the 1st quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 40 shares during the period. Rossmore Private Capital increased its position in Chubb by 1.6% during the 4th quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 41 shares during the period. Equitable Trust Co. increased its position in Chubb by 1.4% during the 1st quarter. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 41 shares during the period. Quotient Wealth Partners LLC grew its position in shares of Chubb by 4.1% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock worth $268,000 after buying an additional 41 shares during the period. Finally, MCF Advisors LLC grew its position in shares of Chubb by 4.2% during the 4th quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $237,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.