Wolfe Research Increases Chubb (NYSE:CB) Price Target to $373.00
by Sarita Garza · The Markets DailyChubb (NYSE:CB – Get Free Report) had its target price hoisted by research analysts at Wolfe Research from $372.00 to $373.00 in a research report issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Wolfe Research’s price objective would indicate a potential upside of 14.43% from the stock’s current price.
Several other brokerages have also commented on CB. Barclays boosted their price target on Chubb from $339.00 to $374.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Evercore boosted their target price on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Citizens Jmp reissued a “market outperform” rating and issued a $350.00 target price on shares of Chubb in a report on Wednesday, February 4th. Cantor Fitzgerald raised their price target on Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group lifted their price target on Chubb from $333.00 to $356.00 and gave the stock a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chubb presently has an average rating of “Hold” and an average price target of $345.19.
View Our Latest Report on Chubb
Chubb Stock Performance
Shares of CB opened at $325.97 on Monday. The company has a 50-day simple moving average of $326.55 and a 200-day simple moving average of $305.36. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $127.20 billion, a PE ratio of 12.65, a P/E/G ratio of 1.75 and a beta of 0.49. Chubb has a 52-week low of $264.10 and a 52-week high of $345.67.
Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter in the previous year, the firm earned $6.02 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Equities research analysts predict that Chubb will post 21.52 earnings per share for the current fiscal year.
Insider Transactions at Chubb
In related news, Director Olivier Steimer sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated 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 approximately $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 44,877 shares of company stock valued at $14,885,226 over the last three months. 0.77% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Chubb
Several institutional investors and hedge funds have recently modified their holdings of CB. Brighton Jones LLC grew its position in shares of Chubb by 12.8% in the fourth 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 stake in Chubb in the 4th quarter valued at about $205,000. Woodline Partners LP increased its stake in shares of Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after acquiring an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Chubb by 14.4% during 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Chubb during the 2nd quarter worth about $728,000. Hedge funds and other institutional investors 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.