Chubb (NYSE:CB) had its target price boosted by investment analysts at Bank of America from $168.00 to $171.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America’s price objective would suggest a potential upside of 10.33% from the company’s previous close.
A number of other research firms have also issued reports on CB. Wells Fargo & Co reiterated a “buy” rating and issued a $169.00 target price on shares of Chubb in a research note on Tuesday. Citigroup increased their target price on Chubb from $167.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $153.00 target price on shares of Chubb in a research note on Sunday, October 29th. Goldman Sachs Group assumed coverage on Chubb in a research note on Monday, December 4th. They issued a “buy” rating and a $167.00 target price for the company. Finally, UBS Group increased their target price on Chubb from $160.00 to $169.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $163.50.
Shares of Chubb (NYSE:CB) traded up $1.93 during trading hours on Wednesday, reaching $154.99. The company’s stock had a trading volume of 856,772 shares, compared to its average volume of 1,714,014. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. Chubb has a 12 month low of $127.15 and a 12 month high of $157.50. The firm has a market capitalization of $71,545.90, a price-to-earnings ratio of 18.69, a PEG ratio of 1.45 and a beta of 0.96.
In related news, insider Paul Bennett Medini sold 5,180 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $150.48, for a total value of $779,486.40. Following the completion of the transaction, the insider now owns 91,775 shares of the company’s stock, valued at $13,810,302. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sean Ringsted sold 28,730 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $151.40, for a total value of $4,349,722.00. Following the completion of the transaction, the executive vice president now directly owns 171,667 shares of the company’s stock, valued at approximately $25,990,383.80. The disclosure for this sale can be found here. Insiders sold 148,282 shares of company stock valued at $21,882,535 in the last three months. 0.43% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. QS Investors LLC lifted its stake in Chubb by 4.5% in the second quarter. QS Investors LLC now owns 8,423 shares of the financial services provider’s stock worth $1,225,000 after acquiring an additional 364 shares during the period. First Allied Advisory Services Inc. lifted its stake in Chubb by 2.6% in the second quarter. First Allied Advisory Services Inc. now owns 6,043 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 151 shares during the period. Flinton Capital Management LLC lifted its stake in Chubb by 11.4% in the second quarter. Flinton Capital Management LLC now owns 9,044 shares of the financial services provider’s stock worth $1,315,000 after acquiring an additional 924 shares during the period. Macquarie Group Ltd. lifted its stake in Chubb by 1.6% in the second quarter. Macquarie Group Ltd. now owns 208,672 shares of the financial services provider’s stock worth $30,337,000 after acquiring an additional 3,280 shares during the period. Finally, Shelton Capital Management purchased a new stake in Chubb in the second quarter worth about $605,000. 88.25% of the stock is owned by hedge funds and other institutional investors.
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Chubb Company Profile
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.
