Barclays Initiates Coverage on Chubb (NYSE:CB)

Analysts at Barclays started coverage on shares of Chubb (NYSE:CB) in a research report issued on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating and a $349.00 price target on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 21.52% from the company’s current price.

CB has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price objective on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Roth Mkm upped their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their target price on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $274.70.

Chubb Stock Performance

Shares of NYSE:CB opened at $287.19 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $116.62 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 5.59 and a beta of 0.66. Chubb has a 12 month low of $198.67 and a 12 month high of $293.13. The firm’s 50-day moving average is $268.26 and its 200 day moving average is $260.44.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.92 EPS. Research analysts predict that Chubb will post 21.2 EPS for the current year.

Insiders Place Their Bets

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. The disclosure for this sale can be found here. Insiders sold 27,382 shares of company stock valued at $7,609,745 in the last three months. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chubb

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Chubb during the 4th quarter worth about $957,756,000. Capital Research Global Investors lifted its holdings in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Capital World Investors raised its holdings in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after purchasing an additional 685,677 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Chubb during the 1st quarter worth approximately $165,932,000. Finally, Bank of Nova Scotia boosted its stake in shares of Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after buying an additional 518,535 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other 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.