Chubb (NYSE:CB) Price Target Raised to $260.00 at Morgan Stanley

Chubb (NYSE:CB) had its price target raised by Morgan Stanley from $258.00 to $260.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

CB has been the subject of several other research reports. Raymond James upped their price objective on shares of Chubb from $270.00 to $285.00 and gave the stock a strong-buy rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $253.00 to $266.00 and gave the stock a neutral rating in a report on Monday, April 8th. The Goldman Sachs Group upped their price objective on shares of Chubb from $228.00 to $254.00 and gave the stock a neutral rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Chubb from $234.00 to $255.00 and gave the stock an equal weight rating in a report on Thursday, February 1st. Finally, Evercore ISI upped their price objective on shares of Chubb from $270.00 to $281.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $266.37.

Chubb Stock Performance

Shares of CB opened at $244.44 on Monday. Chubb has a 1 year low of $183.71 and a 1 year high of $260.58. The company has a market cap of $99.24 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day moving average of $252.55 and a 200-day moving average of $233.47.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.07 by $3.23. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The company had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $12.88 billion. As a group, equities analysts anticipate that Chubb will post 21.15 earnings per share for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders 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 annualized dividend and a yield of 1.41%. Chubb’s payout ratio is presently 15.76%.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now owns 130,937 shares in the company, valued at approximately $33,902,208.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Chubb news, insider John J. Lupica sold 34,464 shares of Chubb stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the transaction, the insider now owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,043 shares of company stock worth $29,766,694. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several institutional investors and hedge funds have recently bought and sold shares of CB. Deutsche Bank AG grew its stake in shares of Chubb by 426.8% in the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after buying an additional 13,059,385 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Chubb by 102,751.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock valued at $1,828,733,000 after buying an additional 8,281,754 shares in the last quarter. Norges Bank bought a new stake in shares of Chubb in the 4th quarter valued at approximately $957,756,000. 1832 Asset Management L.P. grew its stake in shares of Chubb by 1,476.9% in the 4th quarter. 1832 Asset Management L.P. now owns 999,392 shares of the financial services provider’s stock valued at $220,466,000 after buying an additional 936,015 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Chubb by 25.0% in the 4th quarter. Legal & General Group Plc now owns 3,597,558 shares of the financial services provider’s stock valued at $813,049,000 after buying an additional 718,535 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

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.