D/B/A Chubb Limited New (NYSE:CB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Chubb’s third-quarter operating loss was narrower than the Zacks Consensus Estimate of loss, but compared unfavorably with the earnings in the year-ago quarter. The unprecedented hurricane activity and the two successive earthquakes led to this dismal performance. Nonetheless, Chubb stands a good chance of taking leadership in the P&C space, benefiting from complementary products and services. Its inorganic growth story is impressive and should help it achieve higher long-term ROE. A strong capital position helped Chubb engage in shareholder-friendly moves and invest in strategic initiatives to drive growth. Notably, it is on track to achieve annual run-rate integration-related savings of $875 million (up from $800 million as guided earlier) by the end of 2018. However, exposure to cat loss and escalating expenses raise concerns for Chubb. Also, shares have underperformed the industry, since the release of its third-quarter results.”

Several other brokerages have also issued reports on CB. Royal Bank Of Canada reissued a “buy” rating and issued a $153.00 price target on shares of D/B/A Chubb Limited New in a report on Wednesday, July 12th. Morgan Stanley reissued an “overweight” rating and issued a $156.00 price target (up previously from $152.00) on shares of D/B/A Chubb Limited New in a report on Thursday, July 6th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $155.00 price target on shares of D/B/A Chubb Limited New in a report on Tuesday, August 29th. Raymond James Financial, Inc. boosted their price target on shares of D/B/A Chubb Limited New from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, Wells Fargo & Company reissued a “buy” rating and issued a $164.00 price target on shares of D/B/A Chubb Limited New in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $156.55.

D/B/A Chubb Limited New (NYSE:CB) last announced its earnings results on Thursday, October 26th. The financial services provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.11. The business had revenue of $7.36 billion for the quarter, compared to the consensus estimate of $7.14 billion. D/B/A Chubb Limited New had a return on equity of 7.22% and a net margin of 12.15%. D/B/A Chubb Limited New’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.88 EPS.

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In other news, insider Juan C. Andrade sold 5,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $149.71, for a total value of $748,550.00. Following the sale, the insider now directly owns 100,822 shares of the company’s stock, valued at approximately $15,094,061.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Philip V. Bancroft sold 47,049 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $148.86, for a total transaction of $7,003,714.14. Following the completion of the transaction, the insider now directly owns 344,560 shares in the company, valued at $51,291,201.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,723 shares of company stock worth $10,287,046. 0.43% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Trillium Asset Management LLC raised its holdings in D/B/A Chubb Limited New by 1.1% in the 3rd quarter. Trillium Asset Management LLC now owns 154,672 shares of the financial services provider’s stock valued at $22,048,000 after acquiring an additional 1,721 shares during the period. American Century Companies Inc. raised its holdings in D/B/A Chubb Limited New by 6.0% in the 3rd quarter. American Century Companies Inc. now owns 3,963,751 shares of the financial services provider’s stock valued at $565,033,000 after acquiring an additional 225,475 shares during the period. State of Wisconsin Investment Board raised its holdings in D/B/A Chubb Limited New by 3.7% in the 3rd quarter. State of Wisconsin Investment Board now owns 804,009 shares of the financial services provider’s stock valued at $114,611,000 after acquiring an additional 28,376 shares during the period. Mn Services Vermogensbeheer B.V. increased its holdings in shares of D/B/A Chubb Limited New by 1.4% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 77,003 shares of the financial services provider’s stock worth $10,977,000 after purchasing an additional 1,100 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of D/B/A Chubb Limited New by 3.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 75,004 shares of the financial services provider’s stock worth $10,692,000 after purchasing an additional 2,678 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

About D/B/A Chubb Limited New

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

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Analyst Recommendations for D/B/A Chubb Limited New (NYSE:CB)

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