Chubb (NYSE:CB) PT Lowered to $259.00 at Morgan Stanley

Chubb (NYSE:CB) had its target price decreased by Morgan Stanley from $260.00 to $259.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 1.72% from the stock’s current price.

CB has been the subject of several other reports. Roth Mkm reissued a “buy” rating and set a $280.00 price target on shares of Chubb in a report on Wednesday, April 24th. JMP Securities reissued a “market outperform” rating and set a $280.00 price target on shares of Chubb in a report on Monday, April 15th. Bank of America raised shares of Chubb from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $244.00 to $266.00 in a report on Thursday, May 23rd. Citigroup reissued a “neutral” rating and set a $275.00 price target (up from $238.00) on shares of Chubb in a report on Thursday, March 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 target price on shares of Chubb in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and a consensus price target of $266.65.

Chubb Stock Performance

Shares of CB traded up $1.29 during mid-day trading on Wednesday, hitting $254.63. 371,327 shares of the company’s stock were exchanged, compared to its average volume of 1,649,131. Chubb has a fifty-two week low of $186.52 and a fifty-two week high of $275.41. The firm has a market capitalization of $103.40 billion, a P/E ratio of 11.30, a P/E/G ratio of 6.11 and a beta of 0.66. The business’s 50 day moving average is $260.16 and its two-hundred day moving average is $250.44. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.41 earnings per share. On average, equities analysts expect that Chubb will post 21.03 earnings per share for the current year.

Insider Buying and Selling

In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the transaction, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the sale, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 2,400 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. In the last three months, insiders sold 47,552 shares of company stock valued at $12,149,985. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb in the 1st quarter valued at about $25,000. ZRC Wealth Management LLC bought a new stake in shares of Chubb during the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Chubb during the 4th quarter valued at about $29,000. Wellington Shields Capital Management LLC bought a new stake in shares of Chubb during the 1st quarter valued at about $29,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Chubb during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Company Profile

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.