StockNews.com Downgrades Chubb (NYSE:CB) to Hold

StockNews.com cut shares of Chubb (NYSE:CB) from a buy rating to a hold rating in a research report report published on Wednesday morning.

A number of other brokerages have also recently weighed in on CB. BMO Capital Markets upped their price target on shares of Chubb from $220.00 to $240.00 and gave the stock a market perform rating in a research report on Monday, February 5th. Morgan Stanley raised their target price on Chubb from $258.00 to $260.00 and gave the company an equal weight rating in a report on Monday, April 15th. Wells Fargo & Company upped their price target on Chubb from $234.00 to $255.00 and gave the stock an equal weight rating in a report on Thursday, February 1st. Royal Bank of Canada lifted their price objective on shares of Chubb from $255.00 to $275.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Chubb from $275.00 to $297.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chubb has an average rating of Moderate Buy and a consensus target price of $266.37.

Chubb Stock Performance

Shares of NYSE:CB opened at $243.01 on Wednesday. The business has a 50-day moving average of $252.54 and a two-hundred day moving average of $235.21. The firm has a market capitalization of $98.66 billion, a PE ratio of 11.13, a P/E/G ratio of 1.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. Chubb has a 12 month low of $183.71 and a 12 month high of $260.58.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.41 EPS. As a group, research analysts forecast that Chubb will post 21.32 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.86 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.42%. Chubb’s payout ratio is 15.76%.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the completion of the sale, the executive vice president now owns 35,662 shares in the company, valued at $9,228,612.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the completion of the sale, the executive vice president now owns 35,662 shares in the company, valued at $9,228,612.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Insiders sold a total of 116,043 shares of company stock worth $29,766,694 over the last 90 days. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several hedge funds and other institutional investors have recently made changes to their positions in CB. Deutsche Bank AG grew its position in 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. Norges Bank acquired a new position in shares of Chubb during the fourth quarter valued at approximately $957,756,000. Confluence Investment Management LLC bought a new stake in Chubb during the first quarter worth approximately $165,932,000. Bank of Nova Scotia lifted its position in Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after purchasing an additional 495,860 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.