Chubb (NYSE:CB) Hits New 12-Month High – Here’s What Happened

Chubb Limited (NYSE:CB) hit a new 52-week high on Tuesday . The company traded as high as $336.88 and last traded at $331.2240, with a volume of 208026 shares changing hands. The stock had previously closed at $333.39.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $366.00 target price on shares of Chubb in a research note on Thursday, February 5th. Piper Sandler upped their price target on Chubb from $283.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. increased their price target on Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. HSBC raised their price target on Chubb from $354.00 to $357.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company lifted their target price on Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $340.81.

Chubb Trading Down 0.4%

The business’s fifty day moving average price is $313.88 and its 200 day moving average price is $294.01. The company has a quick ratio of 0.27, a current ratio of 0.24 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $130.66 billion, a PE ratio of 12.91, a P/E/G ratio of 2.11 and a beta of 0.49.

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

Insider Activity at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. The trade was a 70.20% 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, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Chubb

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Chubb by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock worth $10,643,993,000 after acquiring an additional 210,053 shares during the period. Berkshire Hathaway Inc boosted its stake in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. State Street Corp increased its position in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after purchasing an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after buying an additional 1,647,729 shares during the period. Institutional investors own 83.81% of the company’s stock.

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.