Chubb (NYSE:CB) Price Target Raised to $293.00

Chubb (NYSE:CB) had its price target lifted by Evercore ISI from $289.00 to $293.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. increased their target price on Chubb from $290.00 to $291.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Bank of America increased their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective for the company. Finally, Roth Mkm increased their price objective on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $287.26.

Chubb Price Performance

CB opened at $277.41 on Wednesday. The stock has a fifty day moving average of $288.23 and a 200-day moving average of $270.64. The firm has a market capitalization of $112.11 billion, a P/E ratio of 11.36, a PEG ratio of 5.86 and a beta of 0.66. Chubb has a 12-month low of $215.54 and a 12-month high of $302.05. The company has a quick ratio of 0.31, a current ratio of 0.35 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.95 earnings per share. Equities analysts forecast that Chubb will post 21.42 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

Insider Buying and Selling

In related news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 0.00 % 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. In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 over the last three months. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chubb

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its holdings in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after acquiring an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after acquiring an additional 826,700 shares in the last quarter. Capital World Investors boosted its holdings in shares of Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after acquiring an additional 457,881 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

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.