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

Chubb (NYSE:CB) had its target price upped by Bank of America from $275.00 to $282.00 in a research note released on Thursday, Benzinga reports. Bank of America currently has an underperform rating on the financial services provider’s stock.

CB has been the subject of several other reports. Barclays started coverage on Chubb in a research note on Wednesday, September 4th. They set an overweight rating and a $349.00 price objective for the company. Royal Bank of Canada increased their price target on Chubb from $285.00 to $295.00 and gave the stock an outperform rating in a report on Thursday, July 25th. JMP Securities boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a market outperform rating in a research note on Wednesday, July 24th. Morgan Stanley reduced their target price on shares of Chubb from $260.00 to $259.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Piper Sandler increased their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an overweight rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $282.37.

Chubb Stock Performance

Shares of CB stock traded up $3.54 during trading hours on Thursday, hitting $288.24. The stock had a trading volume of 128,950 shares, compared to its average volume of 1,621,572. The stock’s 50 day moving average is $281.82 and its 200 day moving average is $266.43. The firm has a market capitalization of $116.49 billion, a PE ratio of 12.03, a PEG ratio of 5.87 and a beta of 0.66. Chubb has a twelve month low of $205.64 and a twelve month high of $294.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (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 company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same period last year, the firm posted $4.92 EPS. Chubb’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts forecast that Chubb will post 21.32 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. Chubb’s payout ratio is 15.38%.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the 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 sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb 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 sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of Chubb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CB. Capital World Investors increased its holdings in shares of Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares during the last quarter. Capital Research Global Investors grew its position in Chubb by 44.4% during 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 period. Ameriprise Financial Inc. increased its stake in Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after acquiring an additional 63,891 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the period. Hedge funds and other 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.