Chubb (NYSE:CB) Stock Gets Price Target Increase from Cantor Fitzgerald

by · The Cerbat Gem

Chubb (NYSE:CB – Get Free Report) had its price objective lifted by Cantor Fitzgerald from $330.00 to $333.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 0.37% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday. The Goldman Sachs Group lifted their price objective on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. UBS Group raised their price target on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Mizuho dropped their price target on Chubb from $352.00 to $347.00 and set a “neutral” rating for the company in a research note on Wednesday, September 16th. Finally, Evercore reissued an “outperform” rating and set a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $359.50.

View Our Latest Research Report on CB

Chubb Trading Up 1.1%

Shares of CB stock opened at $334.24 on Wednesday. The company has a market capitalization of $128.95 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.46 and a beta of 0.36. Chubb has a 52-week low of $265.30 and a 52-week high of $365.91. The business’s fifty day moving average is $341.30 and its 200 day moving average is $335.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same period in the previous year, the business earned $6.14 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Chubb will post 27.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

A number of large investors have recently added to or reduced their stakes in the company. XXEC Inc. purchased a new position in shares of Chubb in the second quarter valued at about $228,226,000. Berkshire Hathaway Inc purchased a new stake in shares of Chubb during the second quarter worth about $11,670,067,000. BlackRock Inc. bought a new stake in shares of Chubb in the second quarter worth about $9,913,336,000. GQG Partners LLC bought a new stake in shares of Chubb in the second quarter worth about $4,250,113,000. Finally, Bank of America Corp DE purchased a new position in Chubb during the 2nd quarter valued at about $1,545,084,000. Institutional investors own 83.81% of the company’s stock.

About Chubb

(Get Free Report)

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.

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