Chubb (NYSE:CB) PT Raised to $156.00
Chubb (NYSE:CB) had its target price lifted by UBS Group from $154.00 to $156.00 in a research note released on Wednesday, Stock Target Advisor reports. They currently have a neutral rating on the financial services provider’s stock.
A number of other equities analysts also recently commented on the stock. Raymond James upped their price objective on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the stock an outperform rating in a research report on Friday, July 5th. Morgan Stanley set a $60.00 price target on shares of Berry Global Group and gave the stock a hold rating in a research note on Wednesday, April 17th. Zacks Investment Research cut shares of Horiba from a hold rating to a sell rating in a report on Wednesday, May 22nd. Compass Point cut shares of Chubb from a buy rating to a neutral rating and cut their price target for the stock from $165.00 to $156.00 in a report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Barclays set a $34.00 price objective on shares of DCP Midstream and gave the company a hold rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $148.90.
CB opened at $149.37 on Wednesday. Chubb has a 52 week low of $119.54 and a 52 week high of $152.00. The firm’s 50 day moving average is $148.54. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock has a market cap of $68.13 billion, a P/E ratio of 15.82, a PEG ratio of 1.42 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 21st were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a yield of 2.01%. This is an increase from Chubb’s previous quarterly dividend of $0.73. Chubb’s dividend payout ratio (DPR) is 31.78%.
In related news, Director Michael G. Atieh sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $141.87, for a total value of $283,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul J. Krump sold 3,450 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $145.00, for a total transaction of $500,250.00. Following the sale, the insider now directly owns 139,160 shares in the company, valued at approximately $20,178,200. The disclosure for this sale can be found here. Insiders have sold a total of 342,146 shares of company stock worth $50,781,622 over the last 90 days. Insiders own 0.47% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. WCM Investment Management LLC boosted its position in shares of Chubb by 100.6% in the 1st quarter. WCM Investment Management LLC now owns 14,039,350 shares of the financial services provider’s stock worth $1,966,632,000 after buying an additional 7,040,520 shares in the last quarter. Bank of America Corp DE grew its position in shares of Chubb by 29.9% in the fourth quarter. Bank of America Corp DE now owns 13,576,704 shares of the financial services provider’s stock valued at $1,753,839,000 after purchasing an additional 3,125,070 shares during the last quarter. FMR LLC increased its stake in shares of Chubb by 0.6% during the 1st quarter. FMR LLC now owns 11,889,654 shares of the financial services provider’s stock worth $1,665,503,000 after purchasing an additional 74,295 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Chubb by 3.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,205,421 shares of the financial services provider’s stock worth $869,256,000 after purchasing an additional 203,528 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Chubb by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 5,631,484 shares of the financial services provider’s stock worth $726,121,000 after purchasing an additional 383,344 shares in the last quarter. Institutional investors own 89.00% of the company’s stock.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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