Barclays Lowers Chubb (NYSE:CB) Price Target to $324.00

Chubb (NYSE:CB) had its target price cut by Barclays from $349.00 to $324.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on CB. Morgan Stanley boosted their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $294.00 to $296.00 and gave the stock a “neutral” rating in a research report on Friday. Bank of America upped their price target on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $286.16.

Chubb Price Performance

NYSE CB opened at $267.21 on Monday. The firm’s 50 day moving average is $280.41 and its 200-day moving average is $278.05. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $107.71 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 6.43 and a beta of 0.67. Chubb has a 12-month low of $222.85 and a 12-month high of $302.05.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.95 EPS. Equities research analysts anticipate that Chubb will post 21.82 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, December 13th. Chubb’s payout ratio is 14.91%.

Institutional Trading of Chubb

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Chubb by 7.3% in the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after buying an additional 1,052,999 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc grew its stake in shares of Chubb by 2.9% in the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Chubb by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock valued at $586,207,000 after purchasing an additional 160,335 shares during the period. Finally, Barclays PLC raised its position in Chubb by 28.1% during the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after purchasing an additional 388,746 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.