Chubb (NYSE:CB) Sets New 1-Year High on Analyst Upgrade

Chubb Limited (NYSE:CB)’s share price hit a new 52-week high during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $362.00 to $386.00. The Goldman Sachs Group currently has a buy rating on the stock. Chubb traded as high as $347.30 and last traded at $346.78, with a volume of 95637 shares changing hands. The stock had previously closed at $340.74.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $315.00 price target on shares of Chubb in a research report on Wednesday, April 22nd. Citizens Jmp boosted their price objective on shares of Chubb from $350.00 to $365.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. HSBC increased their target price on shares of Chubb from $362.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, BMO Capital Markets lifted their target price on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb has a consensus rating of “Moderate Buy” and a consensus target price of $350.24.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CB. Berkshire Hathaway Inc boosted its position in 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 during the period. Norges Bank purchased a new position in shares of Chubb in the fourth quarter valued at about $1,081,190,000. Price T Rowe Associates Inc. MD raised its stake in shares of Chubb by 25.6% during the fourth 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 acquiring an additional 3,049,987 shares during 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 fourth quarter valued at about $795,378,000. Finally, GQG Partners LLC boosted its holdings in shares of 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. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Up 2.0%

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $134.84 billion, a P/E ratio of 12.25, a PEG ratio of 1.75 and a beta of 0.41. The company has a 50 day moving average of $325.62 and a 200-day moving average of $322.10.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, equities analysts anticipate that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Friday, June 12th. Chubb’s payout ratio is presently 14.41%.

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.