Wells Fargo & Company Has Lowered Expectations for Chubb (NYSE:CB) Stock Price

Chubb (NYSE:CB) had its price objective reduced by Wells Fargo & Company from $269.00 to $266.00 in a research report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

CB has been the subject of several other research reports. Jefferies Financial Group lifted their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler lifted their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI lifted their price objective on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley lifted their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $287.26.

Chubb Price Performance

Shares of Chubb stock opened at $277.41 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.35 and a debt-to-equity ratio of 0.20. Chubb has a twelve month low of $215.54 and a twelve month high of $302.05. The business has a 50-day moving average price of $288.23 and a 200 day moving average price of $270.82. The firm has a market cap of $112.11 billion, a PE ratio of 11.36, a P/E/G ratio of 5.86 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same quarter in the previous year, the business earned $4.95 EPS. Chubb’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Chubb will post 21.42 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio is currently 14.91%.

Insider Transactions at Chubb

In related 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 transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred 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 owns 39,172 shares in the company, valued at $11,261,558.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock worth $24,874,208 in the last ninety days. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bard Financial Services Inc. raised its position in Chubb by 3.7% in the first 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 during the period. Parkside Financial Bank & Trust raised its position in Chubb by 0.5% in the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after purchasing an additional 40 shares during the period. Steigerwald Gordon & Koch Inc. raised its position in 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 during the period. LVW Advisors LLC raised its position in Chubb by 0.3% in the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock valued at $3,390,000 after purchasing an additional 40 shares during the period. Finally, Wealth Effects LLC raised its position in Chubb by 3.0% in the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 40 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.