The Chubb Rating Reiterated by Zacks (CB)
The Chubb (NYSE:CB)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Tuesday. They currently have a $99.00 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 5.25% from the stock’s previous close.
Zacks’ analyst wrote, “Despite facing catastrophe losses during the first quarter, Chubb did not disappoint investors with its earnings, and managed to report in line with the estimate. Howerver, we expect strong earnings over the long term given the company’s superior franchise network and a significant presence in its niche market. Chubb’s Commercial insurance segment has been consistently reporting favorable earnings led by a renewal rate that has increase in the past several quarters. The retention ratio stands at a stable level. Chubb’s Personal Insurance segment is also witnessing a gradual market improvement. Moreover, Chubb’s international business has been performing strongly and is a key to its future growth. Moreover, the company’s disciplined capital management strategy which includes regular share buyback and dividend payment will aid the bottom line. We thus maintain our Neutral recommendation on the stock.”
In other The Chubb news, EVP Robert C. Cox sold 1,640 shares of The Chubb stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $93.36, for a total transaction of $153,110.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
The Chubb (NYSE:CB) traded down 0.12% on Tuesday, hitting $93.95. The stock had a trading volume of 270,283 shares. The Chubb has a 52-week low of $81.68 and a 52-week high of $97.79. The stock has a 50-day moving average of $92.4 and a 200-day moving average of $90.4. The company has a market cap of $22.969 billion and a price-to-earnings ratio of 11.25.
The Chubb (NYSE:CB) last announced its earnings results on Thursday, April 24th. The company reported $1.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.56 by $0.06. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the company posted $2.14 earnings per share. The Chubb’s revenue was up .2% compared to the same quarter last year. Analysts expect that The Chubb will post $7.35 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura reiterated a “neutral” rating on shares of The Chubb in a research note on Friday, April 25th. They now have a $92.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of The Chubb in a research note on Tuesday, April 15th. They now have a $82.00 price target on the stock. Finally, analysts at Cowen and Company initiated coverage on shares of The Chubb in a research note on Tuesday, March 18th. They set an “outperform” rating and a $98.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $92.80.
The Chubb Corporation (NYSE:CB) is a holding company for several, separately organized, property and casualty insurance companies referred to informally as the Chubb Group of Insurance Companies (the P&C Group).
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