Chubb (NYSE:CB) Trading 0.2% Higher After Analyst Upgrade

Shares of Chubb Limited (NYSE:CB) rose 0.2% during trading on Friday after Piper Sandler raised their price target on the stock from $281.00 to $305.00. Piper Sandler currently has an overweight rating on the stock. Chubb traded as high as $290.21 and last traded at $289.16. Approximately 218,802 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,627,791 shares. The stock had previously closed at $288.54.

Other equities research analysts have also issued reports about the stock. JMP Securities lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America downgraded Chubb from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $264.00 to $275.00 in a report on Friday. Finally, Roth Mkm upped their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $276.40.

Insider Activity

In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock worth $24,874,208 over the last three months. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CB. Pathway Financial Advisers LLC purchased a new position in Chubb during the first quarter worth about $25,000. Beacon Capital Management LLC raised its position in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 42 shares during the period. Chilton Capital Management LLC bought a new stake in Chubb in the second quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in Chubb in the second quarter worth about $28,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Chubb in the fourth quarter worth about $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Trading Up 0.6 %

The firm has a market cap of $117.89 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $280.84 and its 200 day simple moving average is $265.54.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the previous year, the firm posted $4.92 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts expect that Chubb Limited will post 21.21 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

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.