Chubb’s (CB) “Market Outperform” Rating Reiterated at Citizens Jmp

Chubb (NYSE:CB)‘s stock had its “market outperform” rating reissued by investment analysts at Citizens Jmp in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $400.00 price target on the financial services provider’s stock. Citizens Jmp’s target price would suggest a potential upside of 17.33% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company upped their target price on shares of Chubb from $333.00 to $358.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. HSBC cut Chubb from a “buy” rating to a “hold” rating and lifted their price objective for the company from $370.00 to $373.00 in a report on Monday, July 6th. Citigroup reissued a “market outperform” rating on shares of Chubb in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Piper Sandler raised their price objective on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $359.09.

Chubb Trading Down 3.9%

Shares of CB stock traded down $13.88 during trading hours on Wednesday, reaching $340.92. The company had a trading volume of 1,710,896 shares, compared to its average volume of 1,721,793. The company has a 50 day moving average of $333.63 and a 200 day moving average of $326.34. The firm has a market cap of $132.23 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.83 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb has a 1-year low of $264.10 and a 1-year high of $365.29.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.78 by $0.48. The firm had revenue of $14.71 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.14 earnings per share. On average, equities research analysts anticipate that Chubb will post 26.77 EPS for the current year.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

Institutional investors and hedge funds have recently made changes to their positions in the stock. Berkshire Hathaway Inc increased its holdings in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after buying an additional 2,916,288 shares during the last quarter. State Street Corp raised its holdings in shares of Chubb by 0.4% in 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 lifted its stake in 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 valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the last quarter. GQG Partners LLC grew its holdings in Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares during the period. Finally, Bank of America Corp DE increased its position in Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after buying an additional 513,852 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Key Headlines Impacting Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb delivered stronger-than-expected Q2 earnings, with core operating EPS of $7.26 and net income per share of $7.30, supported by solid underwriting performance. Article Title
• Positive Sentiment: Underwriting remained resilient, with a P&C combined ratio of 83.8% and P&C net premiums written up 3.0%, showing the business is still growing despite softer market conditions. Article Title
• Positive Sentiment: Goldman Sachs maintained a Buy rating, and JPMorgan reportedly raised its price target to $370, reinforcing bullish analyst sentiment after the earnings release. Article Title
• Neutral Sentiment: Revenue of $14.71 billion was slightly below Wall Street expectations, which may be limiting upside even after the earnings beat. Article Title
• Neutral Sentiment: Chubb also announced leadership changes at Tempest Re, which is unlikely to be a major near-term stock driver. Article Title

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.