Chubb Ltd (CB) Given Consensus Recommendation of “Buy” by Brokerages
Chubb Ltd (NYSE:CB) has received a consensus rating of “Buy” from the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $161.33.
A number of research firms have weighed in on CB. Citigroup boosted their target price on shares of Chubb from $167.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $153.00 target price on shares of Chubb in a report on Sunday, October 29th. Wells Fargo & Co set a $169.00 target price on shares of Chubb and gave the stock a “buy” rating in a report on Wednesday, November 29th. Goldman Sachs Group began coverage on shares of Chubb in a report on Monday, December 4th. They set a “buy” rating and a $167.00 target price on the stock. Finally, UBS Group boosted their target price on shares of Chubb from $160.00 to $169.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st.
In related news, CEO Evan G. Greenberg sold 95,761 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the transaction, the chief executive officer now owns 1,367,229 shares in the company, valued at approximately $199,013,853.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy Alan Boroughs sold 18,611 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the transaction, the insider now owns 201,165 shares in the company, valued at approximately $30,420,171.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,956 shares of company stock worth $24,417,316. Insiders own 0.43% of the company’s stock.
Shares of Chubb (NYSE:CB) opened at $144.00 on Friday. The stock has a market cap of $66,578.72, a P/E ratio of 17.27, a P/E/G ratio of 1.35 and a beta of 0.96. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb has a 1-year low of $127.15 and a 1-year high of $156.00.
Chubb (NYSE:CB) last posted its earnings results on Thursday, October 26th. The financial services provider reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.11. Chubb had a net margin of 12.15% and a return on equity of 7.22%. The firm had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period in the previous year, the firm posted $2.88 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts anticipate that Chubb will post 7.21 earnings per share for the current fiscal year.
Chubb announced that its board has approved a share buyback plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 28th. Chubb’s dividend payout ratio is currently 34.05%.
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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