Chubb (NYSE:CB) Price Target Raised to $282.00 at Bank of America

Chubb (NYSE:CB) had its price objective increased by stock analysts at Bank of America from $275.00 to $282.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price target points to a potential downside of 0.71% from the stock’s current price.

A number of other analysts have also weighed in on CB. Barclays assumed coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective on the stock. JPMorgan Chase & Co. lifted 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. Jefferies Financial Group boosted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday. Morgan Stanley cut their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $282.11.

Chubb Stock Up 0.4 %

NYSE CB traded up $1.19 during midday trading on Thursday, hitting $284.02. 370,568 shares of the company traded hands, compared to its average volume of 1,625,868. 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 company has a market cap of $115.33 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. Chubb has a 52 week low of $205.64 and a 52 week high of $294.18. The company’s 50-day simple moving average is $281.56 and its 200-day simple moving average is $266.30.

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

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. 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. In related news, CEO Evan G. Greenberg sold 30,537 shares of the firm’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 transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bard Financial Services Inc. increased its stake in Chubb by 3.7% in the 1st quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 40 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Chubb by 0.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 40 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its holdings in shares of Chubb by 1.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 40 shares in the last quarter. LVW Advisors LLC boosted its stake in Chubb by 0.3% in the 3rd quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 40 shares during the last quarter. Finally, Quotient Wealth Partners LLC grew its holdings in Chubb by 4.1% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock valued at $268,000 after buying an additional 41 shares during the period. 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.