Chubb (NYSE:CB) Sets New 1-Year High on Analyst Upgrade

Chubb Limited (NYSE:CB)’s stock price reached a new 52-week high during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $362.00 to $386.00. The Goldman Sachs Group currently has a buy rating on the stock. Chubb traded as high as $347.30 and last traded at $346.78, with a volume of 95637 shares traded. The stock had previously closed at $340.74.

Several other research analysts also recently weighed in on the company. Jefferies Financial Group cut their price target on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Piper Sandler upped their price objective on shares of Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Wolfe Research lifted their target price on shares of Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Finally, Evercore raised their price objective on shares of Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb has an average rating of “Moderate Buy” and an average price target of $350.24.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chubb

Several hedge funds have recently bought and sold shares of CB. Brighton Jones LLC boosted its holdings in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC purchased a new position in Chubb during the fourth quarter worth about $205,000. Woodline Partners LP increased its stake in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after acquiring an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Chubb by 14.4% in the 2nd 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, Sei Investments Co. boosted its position in shares of Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after acquiring an additional 17,155 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 2.0%

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The company has a fifty day moving average price of $325.62 and a 200 day moving average price of $322.10. The company has a market cap of $134.84 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.75 and a beta of 0.41.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, analysts anticipate that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a $1.02 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 12th. Chubb’s payout ratio is currently 14.41%.

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.