Chubb (NYSE:CB) had its price target dropped by investment analysts at Raymond James from $160.00 to $150.00 in a research note issued to investors on Monday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective would suggest a potential upside of 15.59% from the stock’s previous close.
A number of other analysts have also issued reports on the stock. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Citigroup reduced their price target on shares of Chubb from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Morgan Stanley reduced their price target on shares of Chubb from $166.00 to $153.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. Wells Fargo & Co reissued a “buy” rating and issued a $160.00 price target on shares of Chubb in a research report on Monday, December 3rd. Finally, Deutsche Bank increased their price target on shares of Chubb from $122.00 to $123.00 and gave the stock a “sell” rating in a research report on Tuesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $154.60.
Shares of NYSE:CB traded down $0.58 during trading hours on Monday, hitting $129.77. 775,350 shares of the company’s stock traded hands, compared to its average volume of 1,783,761. Chubb has a 52 week low of $119.54 and a 52 week high of $148.58. The company has a current ratio of 0.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a market cap of $60.07 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.21 and a beta of 0.82.
Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 5th. The financial services provider reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.09. Chubb had a net margin of 11.72% and a return on equity of 8.66%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.80 billion. During the same quarter last year, the firm posted $3.17 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts forecast that Chubb will post 10.8 earnings per share for the current year.
Chubb declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 15th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Chubb news, Director Michael G. Atieh sold 1,200 shares of Chubb stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $133.27, for a total transaction of $159,924.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 1,242 shares of company stock worth $165,544. 0.44% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc grew its holdings in shares of Chubb by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 37,280,448 shares of the financial services provider’s stock worth $4,982,160,000 after purchasing an additional 417,887 shares in the last quarter. Ropes Wealth Advisors LLC increased its stake in shares of Chubb by 7.2% in the third quarter. Ropes Wealth Advisors LLC now owns 18,758 shares of the financial services provider’s stock valued at $2,507,000 after buying an additional 1,261 shares during the period. JPMorgan Chase & Co. grew its stake in Chubb by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 6,737,036 shares of the financial services provider’s stock worth $900,339,000 after purchasing an additional 63,629 shares during the period. Security National Bank grew its stake in Chubb by 4.8% during the third quarter. Security National Bank now owns 13,367 shares of the financial services provider’s stock worth $1,786,000 after purchasing an additional 607 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in Chubb by 24.3% in the third quarter. Steward Partners Investment Advisory LLC now owns 27,793 shares of the financial services provider’s stock valued at $3,714,000 after acquiring an additional 5,427 shares during the period. Institutional investors own 88.78% of the company’s stock.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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