Chubb (NYSE:CB) Price Target Raised to $356.00
by Scott Moore · The Cerbat GemChubb (NYSE:CB – Get Free Report) had its price objective lifted by equities research analysts at Jefferies Financial Group from $333.00 to $356.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 9.07% from the stock’s current price.
Several other equities research analysts also recently weighed in on CB. Barclays upped their target price on shares of Chubb from $339.00 to $374.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. The Goldman Sachs Group upped their target price on shares of Chubb from $366.00 to $368.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. Citigroup upped their target price on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Morgan Stanley set a $350.00 target price on shares of Chubb in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $345.19.
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Chubb Price Performance
Chubb stock opened at $326.40 on Tuesday. The company’s 50 day simple moving average is $326.55 and its 200-day simple moving average is $305.36. The company has a market capitalization of $127.37 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.75 and a beta of 0.49. Chubb has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27.
Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $6.02 EPS. As a group, equities research analysts expect that Chubb will post 21.52 earnings per share for the current year.
Insiders Place Their Bets
In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. The trade was a 70.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This trade represents a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 44,877 shares of company stock worth $14,885,226 in the last 90 days. Corporate insiders own 0.77% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Berkshire Hathaway Inc grew its holdings in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares in the last quarter. State Street Corp boosted its holdings in shares of Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after buying an additional 1,647,729 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after buying an additional 427,512 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Chubb Company Profile
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.