HSBC Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its price target lifted by research analysts at HSBC from $357.00 to $362.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. HSBC’s price objective would indicate a potential upside of 10.91% from the company’s current price.

Several other analysts also recently issued reports on CB. UBS Group restated a “neutral” rating and set a $340.00 price objective on shares of Chubb in a report on Monday, February 9th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a report on Monday, March 23rd. Morgan Stanley set a $350.00 price objective on Chubb in a report on Friday, January 16th. Finally, Raymond James Financial upped their target price on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $345.19.

Chubb Price Performance

NYSE CB opened at $326.40 on Tuesday. The stock’s 50-day moving average price is $326.55 and its two-hundred day moving average price is $305.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market cap of $127.37 billion, a PE ratio of 12.69, a PEG ratio of 1.75 and a beta of 0.49. Chubb has a 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $1.19. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.02 EPS. On average, analysts predict that Chubb will post 21.52 EPS for the current year.

Insider Activity

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares in the company, valued at $169,572,096.72. This represents a 2.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This represents a 70.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,877 shares of company stock worth $14,885,226 in the last 90 days. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CB. Berkshire Hathaway Inc lifted its stake in Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after acquiring an additional 4,299,111 shares during the last quarter. Norges Bank acquired a new position in shares of Chubb during the 4th quarter worth $1,081,190,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Chubb by 25.6% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Chubb during the 4th quarter valued at $795,378,000. Finally, GQG Partners LLC lifted its stake in shares of Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after purchasing an additional 1,647,729 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

About Chubb

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.