JPMorgan Chase & Co. Raises Chubb (NYSE:CB) Price Target to $370.00

Chubb (NYSE:CB) had its price target upped by equities researchers at JPMorgan Chase & Co. from $340.00 to $370.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.21% from the company’s previous close.

A number of other research firms have also recently weighed in on CB. Mizuho upped their price objective on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Barclays set a $387.00 target price on shares of Chubb in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 29th. UBS Group upped their price target on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and upped their price target for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $359.09.

Chubb Trading Up 0.7%

Shares of CB stock opened at $355.04 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $137.71 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.83 and a beta of 0.40. The stock has a 50 day simple moving average of $333.63 and a 200-day simple moving average of $326.34. Chubb has a 1-year low of $264.10 and a 1-year high of $365.29.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.78 by $0.48. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.71 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the firm posted $6.14 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Chubb will post 26.77 EPS for the current fiscal year.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chubb

A number of institutional investors and hedge funds have recently bought and sold shares of CB. Oldfield Partners LLP lifted its stake in Chubb by 25.2% in the 2nd quarter. Oldfield Partners LLP now owns 221,100 shares of the financial services provider’s stock worth $75,338,000 after purchasing an additional 44,500 shares in the last quarter. Ballast Inc. grew its position in shares of Chubb by 24.4% in the second quarter. Ballast Inc. now owns 5,986 shares of the financial services provider’s stock valued at $2,040,000 after purchasing an additional 1,175 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its holdings in shares of Chubb by 5.2% in the second quarter. Regent Peak Wealth Advisors LLC now owns 944 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 47 shares during the last quarter. Dagco Inc. increased its holdings in shares of Chubb by 7.0% in the second quarter. Dagco Inc. now owns 1,813 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 118 shares during the last quarter. Finally, Fiduciary Financial Group LLC lifted its position in Chubb by 18.0% during the second quarter. Fiduciary Financial Group LLC now owns 968 shares of the financial services provider’s stock worth $330,000 after buying an additional 148 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

More Chubb News

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb reported Q2 earnings of $7.26 per share, topping consensus estimates and improving from $6.14 a year ago, which suggests stronger-than-expected profitability. Chubb (CB) Tops Q2 Earnings Estimates
• Positive Sentiment: The company said core operating income rose 14.6% and consolidated net premiums written increased 3.6% to $14.7 billion, signaling solid underwriting and premium growth. Chubb Reports Second Quarter Per Share Net Income…
• Positive Sentiment: The property and casualty combined ratio of 83.8% indicates strong underwriting discipline, which is favorable for insurers. Chubb Reports Second Quarter Per Share Net Income…
• Neutral Sentiment: JPMorgan raised its price target on Chubb to $370 while keeping a neutral rating, reflecting improved earnings expectations but not a strong change in stance. Benzinga report on JPMorgan price target increase
• Neutral Sentiment: Barclays reiterated a hold rating ahead of earnings, suggesting some analysts remained cautious despite the company’s strong fundamentals. Barclays Remains a Hold on Chubb (CB)

Chubb Company Profile

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.