Barclays Downgrades Chubb Corp. to Equal Weight (CB)
Chubb Corp. (NYSE:CB) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, American Banking News.com reports. They currently have a $102.00 target price on the stock, down from their previous target price of $107.00. Barclays’ price target indicates a potential upside of 9.44% from the stock’s previous close.
A number of other firms have also recently commented on CB. Analysts at Janney Montgomery Scott downgraded shares of Chubb Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Chubb Corp. in a research note to investors on Wednesday, December 11th. They now have a $113.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Chubb Corp. from $95.00 to $102.00 in a research note to investors on Tuesday, October 29th. They now have a “buy” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $95.07.
Chubb Corp. (NYSE:CB) traded down 0.60% on Tuesday, hitting $93.20. The stock had a trading volume of 1,418,463 shares. Chubb Corp. has a 52-week low of $75.99 and a 52-week high of $97.79. The stock has a 50-day moving average of $94.82 and a 200-day moving average of $89.69. The company has a market cap of $23.464 billion and a price-to-earnings ratio of 13.12.
Chubb Corp. (NYSE:CB) last issued its quarterly earnings data on Thursday, October 24th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.43. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that Chubb Corp. will post $7.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, January 7th. Shareholders of record on Friday, December 20th will be given a dividend of 0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, December 18th.
The Chubb Corporation (NYSE:CB) is a holding company for a family of property and casualty insurance companies known as the Chubb Group of Insurance Companies (the P&C Group).
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