Chubb (NYSE:CB) Price Target Raised to $291.00

Chubb (NYSE:CB) had its price objective raised by JPMorgan Chase & Co. from $290.00 to $291.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on CB. JMP Securities upped their price target on Chubb from $280.00 to $300.00 and gave the stock a market outperform rating in a report on Wednesday, July 24th. Piper Sandler upped their target price on shares of Chubb from $281.00 to $305.00 and gave the company an overweight rating in a research note on Friday, October 4th. Barclays started coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an overweight rating and a $349.00 price target on the stock. Jefferies Financial Group raised their target price on Chubb from $294.00 to $295.00 and gave the company a hold rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods boosted their price target on Chubb from $304.00 to $305.00 and gave the stock an outperform rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of Hold and an average price target of $282.37.

Chubb Stock Up 0.7 %

Shares of NYSE CB opened at $286.83 on Thursday. The stock has a market capitalization of $116.47 billion, a PE ratio of 12.73, a P/E/G ratio of 5.87 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 has a fifty day moving average of $282.13 and a 200-day moving average of $266.78. Chubb has a 52-week low of $205.64 and a 52-week high of $294.18.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business 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 company posted $4.92 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that Chubb will post 21.32 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Insider Buying and Selling

In related news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Chubb

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pathway Financial Advisers LLC acquired a new position in Chubb in the 1st quarter valued at approximately $25,000. Beacon Capital Management LLC grew 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 in the last quarter. Chilton Capital Management LLC acquired a new position in shares of Chubb during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC bought a new position in shares of Chubb during the 2nd quarter valued at $28,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Chubb during the 4th quarter valued at $29,000. Institutional investors and hedge funds 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.