Chubb (NYSE:CB) Price Target Cut to $259.00 by Analysts at Morgan Stanley

Chubb (NYSE:CBFree Report) had its target price reduced by Morgan Stanley from $260.00 to $259.00 in a report published on Wednesday 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 reports. Evercore ISI boosted their target price on shares of Chubb from $270.00 to $281.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Citigroup restated a neutral rating and issued a $275.00 target price (up from $238.00) on shares of Chubb in a research report on Thursday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $253.00 to $266.00 and gave the company a neutral rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Chubb from $297.00 to $294.00 and set an outperform rating for the company in a research report on Tuesday, May 7th. Finally, JMP Securities reiterated a market outperform rating and set a $280.00 price objective on shares of Chubb in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $266.65.

View Our Latest Research Report on Chubb

Chubb Stock Up 1.2 %

Chubb stock opened at $256.32 on Wednesday. The firm has a market capitalization of $104.08 billion, a PE ratio of 11.38, a P/E/G ratio of 6.11 and a beta of 0.66. The company’s 50-day moving average is $260.29 and its 200-day moving average is $250.48. Chubb has a fifty-two week low of $186.52 and a fifty-two week high of $275.41. 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:CBGet Free Report) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. Chubb’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.41 EPS. Sell-side analysts anticipate that Chubb will post 21.03 earnings per share for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.42%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, June 14th. Chubb’s dividend payout ratio is currently 16.16%.

Insider Buying and Selling

In related news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chubb news, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,552 shares of company stock valued at $12,149,985. 0.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pathway Financial Advisers LLC purchased a new position in shares of Chubb in the first quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Chubb during the first quarter worth $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Chubb during the fourth quarter worth $29,000. Eagle Bay Advisors LLC lifted its position in shares of Chubb by 82.2% during the first quarter. Eagle Bay Advisors LLC now owns 133 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 60 shares during the last quarter. Finally, Bank & Trust Co bought a new stake in shares of Chubb during the second quarter worth $35,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Chubb (NYSE:CB)

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