Chubb (NYSE:CB) Price Target Raised to $304.00

by · The Cerbat Gem

Chubb (NYSE:CBFree Report) had its price target boosted by HSBC from $302.00 to $304.00 in a research report sent to investors on Wednesday,MarketScreener reports.

Several other analysts have also recently commented on the stock. Barclays lifted their price objective on shares of Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $333.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Piper Sandler restated a “neutral” rating and set a $283.00 price objective (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Wolfe Research boosted their target price on shares of Chubb from $320.00 to $336.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $307.79.

View Our Latest Analysis on CB

Chubb Stock Performance

Shares of NYSE CB opened at $277.13 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a 50 day simple moving average of $277.80 and a two-hundred day simple moving average of $280.67. The stock has a market cap of $109.07 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.74 and a beta of 0.54.

Chubb (NYSE:CBGet Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business had revenue of $14.87 billion during the quarter, compared to analysts’ expectations of $12.95 billion. During the same period in the previous year, the business posted $5.72 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, analysts predict that Chubb will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb’s dividend payout ratio is presently 16.19%.

Insider Activity

In other news, insider John J. Lupica sold 23,698 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the completion of the sale, the insider owned 90,600 shares of the company’s stock, valued at $25,458,600. This represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

A number of large investors have recently modified their holdings of CB. Brighton Jones LLC grew its holdings in shares of Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Chubb during the fourth quarter worth $205,000. Golden State Wealth Management LLC grew its holdings in shares of Chubb by 9.1% during the first quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider’s stock worth $166,000 after buying an additional 46 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in shares of Chubb in the first quarter valued at about $277,000. Finally, DAVENPORT & Co LLC increased its position in Chubb by 5.6% during the first quarter. DAVENPORT & Co LLC now owns 15,714 shares of the financial services provider’s stock worth $4,745,000 after purchasing an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

About Chubb

(Get Free Report)

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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