Citizens Jmp Raises Chubb (NYSE:CB) Price Target to $350.00

Chubb (NYSE:CB) had its price objective increased by equities research analysts at Citizens Jmp from $325.00 to $350.00 in a report released on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s target price indicates a potential upside of 16.43% from the stock’s current price.

A number of other brokerages also recently issued reports on CB. HSBC lifted their price target on shares of Chubb from $302.00 to $304.00 in a research note on Wednesday, October 29th. Bank of America lifted their target price on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. UBS Group boosted their target price on shares of Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research note on Wednesday, October 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $283.00 price objective on shares of Chubb in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.81.

Chubb Stock Performance

Shares of NYSE CB opened at $300.60 on Friday. The stock has a market cap of $118.30 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 3.14 and a beta of 0.51. Chubb has a 1-year low of $263.14 and a 1-year high of $316.94. The stock’s 50-day moving average is $303.22 and its 200 day moving average is $285.89. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The company had revenue of $16.15 billion during the quarter, compared to analyst estimates of $12.95 billion. During the same period in the prior year, the business posted $5.72 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Chubb will post 21.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Timothy Alan Boroughs sold 10,580 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $296.17, for a total transaction of $3,133,478.60. Following the completion of the transaction, the executive vice president owned 12,660 shares in the company, valued at $3,749,512.20. The trade was a 45.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 23,698 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares in the company, valued at $25,458,600. This trade represents a 20.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 57,333 shares of company stock worth $16,629,873. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Chubb

Institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its stake in Chubb by 93.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after buying an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Chubb by 155.6% during the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Chubb during the third quarter worth about $31,000. VSM Wealth Advisory LLC acquired a new position in shares of Chubb during the second quarter valued at about $32,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Chubb by 81.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.