The Goldman Sachs Group Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Chubb (NYSE:CB) had its price objective boosted by The Goldman Sachs Group from $366.00 to $368.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 12.81% from the stock’s previous close.

A number of other brokerages have also recently weighed in on CB. Wolfe Research raised their target price on shares of Chubb from $364.00 to $372.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Piper Sandler increased their price objective on Chubb from $283.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. HSBC lifted their target price on Chubb from $354.00 to $357.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Barclays upped their target price on Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Finally, Roth Mkm increased their price target on Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $342.14.

Chubb Price Performance

NYSE:CB traded up $0.30 during mid-day trading on Monday, reaching $326.23. 283,359 shares of the stock were exchanged, compared to its average volume of 1,752,191. Chubb has a 1-year low of $264.10 and a 1-year high of $345.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $127.30 billion, a PE ratio of 12.69, a PEG ratio of 1.72 and a beta of 0.46. The business has a fifty day moving average price of $324.42 and a 200 day moving average price of $303.82.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $6.02 EPS. Research analysts expect that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Activity at Chubb

In other Chubb news, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director owned 25,468 shares in the company, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 44,877 shares of company stock valued at $14,885,226. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Chubb

A number of institutional investors have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Chubb in the fourth quarter worth approximately $205,000. Woodline Partners LP increased its holdings in Chubb by 13.0% in the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after buying an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC raised its position in Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 175 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Chubb by 169.8% in the second quarter. Loomis Sayles & Co. L P now owns 170 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 107 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.