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

Chubb (NYSE:CB) had its price objective lifted by Bank of America from $257.00 to $264.00 in a research note released on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. William Blair cut shares of Chubb from a market perform rating to an underperform rating in a research note on Friday, June 28th. Piper Sandler reiterated an overweight rating and set a $282.00 price objective on shares of Chubb in a report on Monday, April 1st. Evercore ISI increased their target price on shares of Chubb from $270.00 to $281.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. StockNews.com downgraded shares of Chubb from a buy rating to a hold rating in a research report on Wednesday, April 24th. Finally, JMP Securities raised their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a market outperform rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $270.21.

Chubb Stock Up 3.2 %

Shares of Chubb stock opened at $270.06 on Wednesday. Chubb has a 52-week low of $198.10 and a 52-week high of $275.41. The company has a 50 day moving average of $262.03 and a 200 day moving average of $253.61. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $109.66 billion, a P/E ratio of 11.99, a P/E/G ratio of 5.04 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share 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 business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter in the previous year, the firm earned $4.92 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, research analysts forecast that Chubb will post 21.03 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid 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 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, June 14th. Chubb’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at $11,648,059.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO John W. Keogh sold 34,707 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Juan Luis Ortega sold 2,400 shares of the 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 sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock worth $12,149,985 over the last three months. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Chubb

Several large investors have recently made changes to their positions in the business. Capital World Investors grew its holdings in shares of Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after purchasing an additional 685,677 shares during the last quarter. Capital Research Global Investors boosted its holdings in Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after acquiring an additional 2,064,730 shares during the last quarter. Norges Bank bought a new position in Chubb in the fourth quarter valued at about $957,756,000. Lazard Asset Management LLC boosted its holdings in Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after acquiring an additional 457,881 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Chubb by 2.9% in the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after acquiring an additional 87,059 shares during the last quarter. Institutional investors 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.