Chubb’s (NYSE:CB) “Neutral” Rating Reiterated at Credit Suisse Group

Credit Suisse Group restated their neutral rating on shares of Chubb (NYSE:CB) in a report issued on Tuesday, December 19th, MarketBeat Ratings reports. Credit Suisse Group currently has a $156.00 target price on the financial services provider’s stock.

CB has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a buy rating and issued a $155.00 price target on shares of Chubb in a report on Tuesday, August 29th. Wells Fargo & Co reissued a buy rating and set a $164.00 price objective on shares of Chubb in a research report on Thursday, September 28th. Zacks Investment Research raised Chubb from a sell rating to a hold rating in a research report on Friday, November 3rd. Goldman Sachs Group started coverage on Chubb in a research report on Monday, December 4th. They set a buy rating and a $167.00 price objective for the company. Finally, UBS Group lifted their price target on Chubb from $160.00 to $169.00 and gave the stock a buy rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $161.33.

Chubb (CB) traded up $1.14 during mid-day trading on Tuesday, hitting $145.64. 1,352,166 shares of the company’s stock traded hands, compared to its average volume of 1,600,000. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. Chubb has a 52-week low of $127.15 and a 52-week high of $156.00. The stock has a market capitalization of $67,610.00, a P/E ratio of 17.46, a PEG ratio of 1.36 and a beta of 0.96.

Chubb (NYSE:CB) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.11. The business had revenue of $7.36 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Chubb had a net margin of 12.15% and a return on equity of 7.22%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 earnings per share. equities analysts forecast that Chubb will post 7.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a dividend of $0.71 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.95%. Chubb’s dividend payout ratio (DPR) is presently 34.05%.

Chubb declared that its Board of Directors has initiated a share buyback plan on Thursday, December 21st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

In other Chubb news, insider Timothy Alan Boroughs sold 18,611 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $151.22, for a total value of $2,814,355.42. Following the completion of the transaction, the insider now directly owns 201,165 shares in the company, valued at approximately $30,420,171.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 95,761 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value of $13,938,971.16. Following the sale, the chief executive officer now directly owns 1,367,229 shares in the company, valued at $199,013,853.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,956 shares of company stock valued at $24,417,316. 0.43% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. KCS Wealth Advisory purchased a new stake in Chubb during the 4th quarter valued at $250,000. Nisa Investment Advisors LLC grew its position in Chubb by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 148,164 shares of the financial services provider’s stock valued at $21,651,000 after acquiring an additional 12,569 shares during the last quarter. Appleton Partners Inc. MA grew its position in Chubb by 11.4% in the 4th quarter. Appleton Partners Inc. MA now owns 10,194 shares of the financial services provider’s stock valued at $1,490,000 after acquiring an additional 1,041 shares during the last quarter. First American Trust FSB grew its position in Chubb by 47.2% in the 4th quarter. First American Trust FSB now owns 35,863 shares of the financial services provider’s stock valued at $5,241,000 after acquiring an additional 11,500 shares during the last quarter. Finally, Patriot Wealth Management Inc. grew its position in Chubb by 1.7% in the 4th quarter. Patriot Wealth Management Inc. now owns 32,326 shares of the financial services provider’s stock valued at $4,724,000 after acquiring an additional 537 shares during the last quarter. Institutional investors own 88.17% of the company’s stock.

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Chubb Company Profile

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

Analyst Recommendations for Chubb (NYSE:CB)

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