Chubb (NYSE:CB) Price Target Cut to $285.00

Chubb (NYSE:CB) had its price objective trimmed by Royal Bank of Canada from $295.00 to $285.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on CB. The Goldman Sachs Group boosted their target price on shares of Chubb from $228.00 to $254.00 and gave the company a neutral rating in a report on Friday, April 12th. Piper Sandler reissued an overweight rating and set a $282.00 price objective on shares of Chubb in a report on Monday, April 1st. BMO Capital Markets upped their price target on Chubb from $220.00 to $240.00 and gave the company a market perform rating in a research report on Monday, February 5th. Roth Mkm restated a buy rating and issued a $280.00 price objective on shares of Chubb in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Chubb from $253.00 to $266.00 and gave the stock a neutral rating in a report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $266.89.

Chubb Stock Performance

Shares of CB opened at $245.45 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.29. The firm has a market cap of $99.65 billion, a PE ratio of 10.89, a PEG ratio of 1.16 and a beta of 0.62. Chubb has a 1 year low of $183.71 and a 1 year high of $260.58. The stock’s fifty day moving average price is $252.33 and its two-hundred day moving average price is $235.88.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.41 earnings per share. On average, equities research analysts forecast that Chubb will post 21.17 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.40%. Chubb’s dividend payout ratio is 15.27%.

Insiders Place Their Bets

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the transaction, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Annmarie T. Hagan sold 7,180 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the transaction, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the completion of the sale, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The disclosure for this sale can be found here. Insiders sold a total of 116,043 shares of company stock valued at $29,766,694 over the last quarter. 0.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. NORTHSTAR ASSET MANAGEMENT Co LLC grew its stake in Chubb by 3.9% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 3,690 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 140 shares during the period. Salzhauer Michael purchased a new stake in shares of Chubb in the 1st quarter worth about $214,000. Pinnacle Associates Ltd. increased its stake in shares of Chubb by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 16,927 shares of the financial services provider’s stock worth $4,386,000 after acquiring an additional 466 shares in the last quarter. Trueblood Wealth Management LLC lifted its position in Chubb by 9.1% during the 1st quarter. Trueblood Wealth Management LLC now owns 3,875 shares of the financial services provider’s stock valued at $1,004,000 after acquiring an additional 324 shares during the period. Finally, UMB Bank n.a. grew its holdings in Chubb by 210.6% in the first quarter. UMB Bank n.a. now owns 49,245 shares of the financial services provider’s stock worth $12,761,000 after purchasing an additional 33,392 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.