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

Chubb (NYSE:CB) had its target price lifted by Morgan Stanley from $350.00 to $360.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a report on Monday, October 12th. Citizens Jmp restated a “market outperform” rating and issued a $400.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Chubb from a “buy (b)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Finally, Mizuho increased their price objective on Chubb from $336.00 to $350.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average price target of $362.78.

Chubb Trading Up 1.9%

Chubb stock opened at $362.34 on Tuesday. The firm has a market cap of $139.79 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.65 and a beta of 0.36. Chubb has a 1 year low of $273.35 and a 1 year high of $365.91. The firm’s 50 day moving average price is $342.91 and its two-hundred day moving average price is $333.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.35.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The company had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.66 billion. During the same period in the previous year, the business earned $7.49 EPS. On average, research analysts predict that Chubb will post 28.67 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Chubb’s payout ratio is 14.28%.

Insider Transactions at Chubb

In related news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares of the company’s stock, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy Boroughs sold 13,596 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $356.77, for a total value of $4,850,644.92. Following the completion of the transaction, the executive vice president directly owned 5,588 shares of the company’s stock, valued at $1,993,630.76. This represents a 70.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CB. XXEC Inc. acquired a new position in shares of Chubb in the second quarter valued at approximately $228,226,000. Berkshire Hathaway Inc purchased a new stake in shares of Chubb during the second quarter worth approximately $11,670,067,000. BlackRock Inc. purchased a new stake in shares of Chubb during the second quarter worth approximately $9,913,336,000. GQG Partners LLC acquired a new stake in shares of Chubb during the second quarter worth $4,250,113,000. Finally, Bank of America Corp DE lifted its holdings 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 worth $1,599,868,000 after purchasing an additional 147,876 shares during the period. 83.81% of the stock is currently owned by institutional investors.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.