Chubb (NYSE:CB) Price Target Cut to $387.00 by Analysts at Keefe, Bruyette & Woods

Chubb (NYSE:CB) had its price target lowered by Keefe, Bruyette & Woods from $389.00 to $387.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently commented on CB. Morgan Stanley decreased their price objective on shares of Chubb from $360.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Weiss Ratings downgraded shares of Chubb from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. JPMorgan Chase & Co. dropped their target price on shares of Chubb from $374.00 to $371.00 and set a “neutral” rating for the company in a report on Friday. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Atlantic Securities set a $301.00 price target on Chubb in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $358.36.

Chubb Price Performance

Shares of NYSE:CB opened at $345.12 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a market capitalization of $133.15 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.50 and a beta of 0.36. The firm’s 50 day simple moving average is $340.36 and its two-hundred day simple moving average is $335.64.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.14 earnings per share. Research analysts expect that Chubb will post 27.68 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a $1.02 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Insider Activity at Chubb

In other Chubb news, 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 value of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Chubb

A number of hedge funds and other institutional investors have recently modified their holdings of CB. XXEC Inc. purchased a new stake in Chubb in the second quarter worth $228,226,000. Berkshire Hathaway Inc lifted its position in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Chubb during the second quarter worth $9,913,336,000. GQG Partners LLC purchased a new stake in shares of Chubb during the second quarter valued at $4,250,113,000. Finally, Bank of America Corp DE boosted its stake in shares of Chubb by 3.1% during the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock valued at $1,599,868,000 after purchasing an additional 147,876 shares during the period. Institutional investors own 83.81% of the company’s stock.

About Chubb

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.