Chubb (NYSE:CB) Lowered to Underperform at Bank of America

Bank of America cut shares of Chubb (NYSE:CB) from a neutral rating to an underperform rating in a report released on Friday morning, MarketBeat Ratings reports. Bank of America currently has $275.00 target price on the financial services provider’s stock, up from their previous target price of $264.00.

Several other analysts have also weighed in on CB. Royal Bank of Canada raised their price objective on Chubb from $285.00 to $295.00 and gave the company an outperform rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Chubb from $266.00 to $286.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Roth Mkm raised their price objective on Chubb from $280.00 to $300.00 and gave the company a buy rating in a research note on Wednesday, July 24th. William Blair lowered Chubb from a market perform rating to an underperform rating in a research note on Friday, June 28th. Finally, Morgan Stanley dropped their target price on Chubb from $260.00 to $259.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $276.79.

Chubb Stock Up 0.7 %

CB stock opened at $290.57 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $117.99 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 5.74 and a beta of 0.66. The business’s fifty day moving average price is $281.24 and its two-hundred day moving average price is $265.76. Chubb has a fifty-two week low of $205.64 and a fifty-two week high of $294.18.

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

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the sale, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,636 shares of company stock valued at $24,874,208. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Chubb

Hedge funds have recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in shares of Chubb in the first quarter valued at $25,000. Beacon Capital Management LLC raised its stake in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Chilton Capital Management LLC bought a new stake in shares of Chubb during the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Chubb during the 2nd quarter valued at $28,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Chubb during the 4th quarter valued at $29,000. 83.81% of the stock is currently owned by institutional investors.

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.