Chubb (NYSE:CB) Price Target Raised to $360.00

Chubb (NYSE:CB) had its price objective upped by Morgan Stanley from $340.00 to $360.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Mizuho upped their price objective on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Cantor Fitzgerald lifted their target price on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Piper Sandler boosted their price target on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Finally, Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus target price of $361.00.

Chubb Stock Performance

NYSE:CB opened at $341.15 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day simple moving average of $345.88 and a two-hundred day simple moving average of $333.31. Chubb has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a market capitalization of $131.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.66 and a beta of 0.39.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.14 earnings per share. On average, analysts expect that Chubb will post 27.49 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio is currently 14.43%.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its position in Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock worth $35,000 after buying an additional 31 shares in the last quarter. Phillips Wealth Planners LLC increased its stake in Chubb by 1.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 31 shares during the last quarter. Hoxton Planning & Management LLC raised its holdings in shares of Chubb by 4.3% in the 4th quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 31 shares in the last quarter. G&S Capital LLC raised its holdings in shares of Chubb by 1.5% in the 4th quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 34 shares in the last quarter. Finally, South Plains Financial Inc. boosted its position in shares of Chubb by 2.2% during the 4th quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 34 shares during the last quarter. 83.81% of the stock is currently 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.