Chubb (NYSE:CB) Price Target Lowered to $259.00 at Bank of America

Chubb (NYSE:CB) had its price target lowered by Bank of America from $279.00 to $259.00 in a report published on Friday,MarketScreener reports. The firm currently has an underperform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on CB. UBS Group boosted their price objective on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Barclays lifted their price objective on shares of Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group raised shares of Chubb from a “neutral” rating to a “buy” rating and increased their target price for the stock from $309.00 to $351.00 in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.81.

Chubb Price Performance

Shares of CB opened at $300.60 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a market cap of $118.30 billion, a PE ratio of 12.55, a PEG ratio of 3.15 and a beta of 0.51. Chubb has a 12-month low of $263.14 and a 12-month high of $316.94. The business has a 50-day simple moving average of $303.22 and a two-hundred day simple moving average of $285.92.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping the consensus estimate of $5.51 by $1.98. The company had revenue of $16.15 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. Chubb’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.72 earnings per share. Analysts anticipate that Chubb will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 5,830 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the sale, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This trade represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John J. Lupica sold 16,375 shares of Chubb stock in a transaction on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the sale, the insider owned 74,225 shares in the company, valued at $22,004,001.25. The trade was a 18.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 57,333 shares of company stock valued at $16,629,873. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Berkshire Hathaway Inc lifted its stake in shares of Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after buying an additional 4,299,111 shares in the last quarter. Norges Bank bought a new stake in Chubb during the 2nd quarter valued at $1,195,137,000. AQR Capital Management LLC raised its holdings in Chubb by 75.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock valued at $785,468,000 after acquiring an additional 1,199,963 shares during the period. Woodline Partners LP purchased a new stake in shares of Chubb during the third quarter worth $220,217,000. Finally, Amundi boosted its holdings in shares of Chubb by 55.4% in the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock worth $557,493,000 after acquiring an additional 693,740 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Company Profile

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.