Chubb (NYSE:CB) Price Target Raised to $264.00

Chubb (NYSE:CB) had its target price raised by Bank of America from $257.00 to $264.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other brokerages have also commented on CB. William Blair lowered Chubb from a market perform rating to an underperform rating in a research report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on Chubb from $266.00 to $286.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. Evercore ISI increased their price objective on Chubb from $270.00 to $281.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. StockNews.com downgraded Chubb from a buy rating to a hold rating in a research note on Wednesday, April 24th. Finally, Roth Mkm reissued a buy rating and issued a $280.00 price objective on shares of Chubb in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chubb presently has a consensus rating of Hold and a consensus price target of $270.21.

Chubb Price Performance

Chubb stock opened at $270.06 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.36. Chubb has a 52 week low of $198.10 and a 52 week high of $275.41. The stock has a market capitalization of $109.66 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 5.04 and a beta of 0.66. The stock has a fifty day moving average of $262.03 and a 200-day moving average of $253.61.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter in the prior year, the firm earned $4.92 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Chubb will post 21.03 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.35%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, June 14th. Chubb’s dividend payout ratio is 16.16%.

Insider Transactions at Chubb

In other news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Juan Luis Ortega sold 2,400 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock valued at $12,149,985 over the last three months. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Large investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC boosted its stake in Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the period. Pathway Financial Advisers LLC purchased a new stake in Chubb during the first quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Chubb during the first quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Chubb during the fourth quarter valued at about $29,000. Finally, Eagle Bay Advisors LLC raised its position in Chubb by 82.2% during the first quarter. Eagle Bay Advisors LLC now owns 133 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 60 shares in the last quarter. Institutional investors 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.