Piper Sandler Raises Chubb (NYSE:CB) Price Target to $305.00

Chubb (NYSE:CB) had its price objective upped by Piper Sandler from $281.00 to $305.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. William Blair lowered Chubb from a market perform rating to an underperform rating in a report on Friday, June 28th. Roth Mkm lifted their target price on Chubb from $280.00 to $300.00 and gave the company a buy rating in a research report on Wednesday, July 24th. JMP Securities lifted their target price on Chubb from $280.00 to $300.00 and gave the company a market outperform rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $304.00 to $305.00 and gave the company an outperform rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on Chubb from $266.00 to $286.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $280.22.

Chubb Trading Up 0.7 %

Shares of NYSE:CB opened at $290.59 on Friday. The stock has a 50 day moving average of $281.24 and a 200 day moving average of $265.87. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb has a 12-month low of $205.64 and a 12-month high of $294.18. The company has a market cap of $118.00 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66.

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

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio is presently 16.16%.

Insider Transactions at Chubb

In related news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was 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 $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was 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 in the company, valued at $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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.

Hedge Funds Weigh In On Chubb

A number of hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its holdings in Chubb by 5.3% in the third quarter. Handelsbanken Fonder AB now owns 129,628 shares of the financial services provider’s stock worth $37,383,000 after purchasing an additional 6,500 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings in Chubb by 34.4% during the third quarter. Harbor Investment Advisory LLC now owns 2,381 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 610 shares during the period. Central Valley Advisors LLC boosted its holdings in Chubb by 3.9% during the third quarter. Central Valley Advisors LLC now owns 7,620 shares of the financial services provider’s stock valued at $2,198,000 after acquiring an additional 283 shares during the period. Goelzer Investment Management Inc. boosted its holdings in Chubb by 4.5% during the third quarter. Goelzer Investment Management Inc. now owns 1,214 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 52 shares during the period. Finally, Regency Capital Management Inc. DE lifted its stake in shares of Chubb by 27.4% in the third quarter. Regency Capital Management Inc. DE now owns 33,876 shares of the financial services provider’s stock valued at $9,770,000 after buying an additional 7,284 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

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.