Chubb (NYSE:CB) Given New $285.00 Price Target at Royal Bank of Canada

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

A number of other brokerages also recently commented on CB. StockNews.com downgraded shares of Chubb from a buy rating to a hold rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their target price on shares of Chubb from $234.00 to $255.00 and gave the company an equal weight rating in a research report on Thursday, February 1st. Keefe, Bruyette & Woods upped their price target on Chubb from $275.00 to $297.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. The Goldman Sachs Group raised their price objective on Chubb from $228.00 to $254.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Finally, Evercore ISI upped their target price on Chubb from $270.00 to $281.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chubb presently has an average rating of Moderate Buy and a consensus price target of $266.89.

Chubb Price Performance

Shares of CB opened at $245.45 on Thursday. The stock has a market capitalization of $99.65 billion, a PE ratio of 10.89, a PEG ratio of 1.16 and a beta of 0.62. The company has a 50 day moving average price of $252.33 and a 200-day moving average price of $235.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.35. Chubb has a fifty-two week low of $183.71 and a fifty-two week high of $260.58.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (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 analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.41 EPS. Equities analysts predict that Chubb will post 21.17 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.86 dividend. 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 payout ratio is currently 15.27%.

Insider Buying and Selling

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the 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 sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction that occurred on 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 directly owns 130,937 shares in the company, valued at approximately $33,902,208.04. 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 90 days. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Hedge funds have recently modified their holdings of the company. ZRC Wealth Management LLC purchased a new position in Chubb during the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb during the 4th quarter worth approximately $29,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Chubb during the 4th quarter valued at approximately $32,000. Northwest Financial Advisors purchased a new stake in Chubb in the 4th quarter worth $33,000. Finally, Naples Money Management LLC acquired a new position in Chubb during the fourth quarter worth $34,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

About Chubb

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.