Wells Fargo & Company Issues Pessimistic Forecast for Chubb (NYSE:CB) Stock Price

Chubb (NYSE:CB) had its target price decreased by equities research analysts at Wells Fargo & Company from $269.00 to $266.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 4.11% from the company’s previous close.

A number of other equities research analysts have also weighed in on CB. Piper Sandler raised their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Barclays started coverage on shares of Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Bank of America raised their price objective on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. JMP Securities raised their price objective on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Roth Mkm raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $287.26.

Chubb Stock Performance

NYSE:CB opened at $277.41 on Thursday. The company has a market capitalization of $112.11 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66. Chubb has a twelve month low of $215.54 and a twelve month high of $302.05. The company has a current ratio of 0.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $288.23 and a two-hundred day moving average price of $270.64.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same period last year, the company earned $4.95 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts expect that Chubb will post 21.42 earnings per share for the current fiscal year.

Insider Activity at Chubb

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the business’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 owns 583,982 shares in the company, valued at approximately $167,748,829.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on 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 directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. This trade 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 valued at $24,874,208 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chubb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in Chubb during the 1st quarter worth about $25,000. Beacon Capital Management LLC boosted its holdings in shares of Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 42 shares during the period. Chilton Capital Management LLC purchased a new position in Chubb during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new position in Chubb during the second quarter valued at approximately $28,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of Chubb during the 1st 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.