Chubb’s (CB) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Chubb (NYSE:CB) in a report released on Friday, Benzinga reports. They currently have a $285.00 price target on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Citigroup reissued a neutral rating and issued a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Keefe, Bruyette & Woods cut their price target on shares of Chubb from $297.00 to $294.00 and set an outperform rating for the company in a research note on Tuesday, May 7th. The Goldman Sachs Group boosted their price target on shares of Chubb from $228.00 to $254.00 and gave the stock a neutral rating in a research note on Friday, April 12th. JMP Securities reissued a market outperform rating and issued a $280.00 price target on shares of Chubb in a research note on Monday, April 15th. Finally, HSBC restated a hold rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $266.70.

Chubb Price Performance

Shares of NYSE:CB opened at $255.07 on Friday. The company has a 50 day moving average of $259.30 and a 200 day moving average of $248.48. The stock has a market cap of $103.57 billion, a P/E ratio of 11.32, a P/E/G ratio of 6.24 and a beta of 0.66. Chubb has a 12 month low of $183.71 and a 12 month high of $275.41. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the company earned $4.41 earnings per share. Chubb’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb will post 21.15 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a dividend of $0.91 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, June 14th. Chubb’s dividend payout ratio is currently 16.16%.

Insider Activity at Chubb

In related news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael G. Atieh sold 716 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the completion of the sale, the director now directly owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock worth $12,149,985 in the last three months. 0.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

Institutional investors and hedge funds have recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Chubb in the 1st quarter worth about $25,000. ZRC Wealth Management LLC purchased a new position in Chubb during the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. purchased a new position in Chubb during the 4th quarter valued at about $29,000. Wellington Shields Capital Management LLC purchased a new position in Chubb during the 1st quarter valued at about $29,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Chubb during the 4th quarter valued at about $32,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

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.