Chubb (NYSE:CB) PT Lowered to $294.00 at Keefe, Bruyette & Woods

Chubb (NYSE:CB) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $297.00 to $294.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 16.85% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. Royal Bank of Canada dropped their price target on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. TD Cowen initiated coverage on shares of Chubb in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $254.00 price objective on the stock. BMO Capital Markets raised their target price on Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research report on Monday, February 5th. Finally, UBS Group upped their price target on Chubb from $245.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.74.

Chubb Price Performance

Shares of NYSE:CB opened at $251.61 on Tuesday. The firm has a 50 day simple moving average of $251.85 and a 200 day simple moving average of $237.76. The company has a market cap of $102.17 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.17 and a beta of 0.63. Chubb has a one year low of $183.71 and a one year high of $260.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter last year, the business posted $4.41 EPS. Chubb’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts predict that Chubb will post 21.18 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Joseph F. Wayland sold 26,946 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.02, for a total value of $6,925,660.92. Following the completion of the sale, the executive vice president now directly owns 95,252 shares of the company’s stock, valued at approximately $24,481,669.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Joseph F. Wayland sold 26,946 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.02, for a total value of $6,925,660.92. Following the transaction, the executive vice president now directly owns 95,252 shares in the company, valued at approximately $24,481,669.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president now owns 35,662 shares of the company’s stock, valued at approximately $9,228,612.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,863 shares of company stock worth $28,007,307. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several large investors have recently added to or reduced their stakes in CB. Deutsche Bank AG raised its holdings in shares of Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after purchasing an additional 13,059,385 shares during the last quarter. Norges Bank bought a new stake in Chubb in the 4th quarter worth about $957,756,000. Confluence Investment Management LLC purchased a new stake in Chubb in the 1st quarter valued at about $165,932,000. Bank of Nova Scotia lifted its position in shares of Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after buying an additional 518,535 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after buying an additional 495,860 shares during the last quarter. 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.