The Goldman Sachs Group Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its price objective boosted by analysts at The Goldman Sachs Group from $366.00 to $368.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 12.58% from the company’s previous close.

CB has been the subject of several other research reports. Cantor Fitzgerald upped their target price on shares of Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Piper Sandler boosted their price objective on Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. HSBC boosted their price target on shares of Chubb from $354.00 to $357.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. UBS Group restated a “neutral” rating and set a $340.00 price objective on shares of Chubb in a research report on Monday, February 9th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $350.00 target price on shares of Chubb in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $342.14.

Chubb Stock Up 0.3%

Chubb stock traded up $0.94 during midday trading on Monday, hitting $326.87. The stock had a trading volume of 348,904 shares, compared to its average volume of 1,753,573. The stock has a market cap of $127.55 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.72 and a beta of 0.46. The business has a fifty day moving average price of $324.42 and a 200 day moving average price of $303.82. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb has a 12 month low of $264.10 and a 12 month high of $345.67.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same period in the prior year, the company posted $6.02 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Research analysts predict that Chubb will post 21.52 EPS for the current year.

Insider Activity at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This represents a 70.20% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 44,877 shares of company stock worth $14,885,226. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chubb

Several hedge funds have recently bought and sold shares of CB. Spire Wealth Management grew its position in Chubb by 490.5% in the fourth quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider’s stock worth $2,689,000 after acquiring an additional 7,156 shares in the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of Chubb by 7.4% during the 4th quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider’s stock valued at $31,970,000 after purchasing an additional 7,043 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Chubb by 42.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider’s stock valued at $4,446,000 after purchasing an additional 4,233 shares during the last quarter. Westbourne Investment Advisors Inc. lifted its stake in shares of Chubb by 12.3% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock valued at $6,275,000 after purchasing an additional 2,427 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in Chubb in the third quarter worth $3,123,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.