Piper Sandler Increases Chubb (NYSE:CB) Price Target to $305.00

Chubb (NYSE:CB) had its price target upped by Piper Sandler from $281.00 to $305.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 5.05% from the company’s current price.

Other research analysts also recently issued reports about the company. Roth Mkm lifted their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Morgan Stanley cut their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada lifted their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, JMP Securities increased their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $276.40.

Chubb Stock Performance

Shares of CB traded up $1.79 during mid-day trading on Friday, reaching $290.33. 429,325 shares of the company’s stock were exchanged, compared to its average volume of 1,628,888. The business’s fifty day simple moving average is $280.84 and its 200-day simple moving average is $265.54. The stock has a market capitalization of $117.89 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. Chubb has a 52-week low of $205.64 and a 52-week high of $294.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

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

Insider Transactions at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 in the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several institutional investors and hedge funds have recently modified their holdings of CB. Bard Financial Services Inc. lifted its holdings in shares of Chubb by 3.7% during the 1st quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 40 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Chubb by 0.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after buying an additional 40 shares during the period. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Chubb by 1.9% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after buying an additional 40 shares during the last quarter. Quotient Wealth Partners LLC raised its position in shares of Chubb by 4.1% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock worth $268,000 after buying an additional 41 shares during the period. Finally, Drive Wealth Management LLC boosted its holdings in Chubb by 3.6% in the second quarter. Drive Wealth Management LLC now owns 1,183 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

About Chubb

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.