Chubb (NYSE:CB) Rating Reiterated by Royal Bank of Canada

Chubb (NYSE:CB)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $285.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 11.73% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Morgan Stanley increased their target price on Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler reissued an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research note on Monday, April 1st. Citigroup reissued a “neutral” rating and issued a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Evercore ISI increased their price target on Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, HSBC reissued a “hold” rating and issued a $270.00 price target (down previously from $275.00) on shares of Chubb in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $266.70.

Chubb Stock Performance

CB stock opened at $255.08 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The firm has a market cap of $103.58 billion, a P/E ratio of 11.32, a P/E/G ratio of 6.29 and a beta of 0.66. Chubb has a 12-month low of $183.71 and a 12-month high of $275.41. The stock’s 50 day simple moving average is $259.30 and its 200 day simple moving average is $248.63.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same period in the prior year, the company posted $4.41 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that Chubb will post 21.15 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael G. Atieh sold 716 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the sale, the director now directly owns 39,295 shares of the company’s stock, valued at approximately $10,597,861.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Atieh sold 716 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the transaction, the director now directly owns 39,295 shares in the company, valued at $10,597,861.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,552 shares of company stock valued at $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Chubb during the 4th quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chubb during the 4th quarter worth approximately $29,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Chubb during the 1st quarter worth approximately $29,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Chubb during the 4th quarter worth approximately $32,000. 83.81% of the stock is owned by institutional investors.

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.