Jefferies Financial Group Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its target price raised by analysts at Jefferies Financial Group from $307.00 to $308.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 8.72% from the stock’s current price.

A number of other equities analysts have also weighed in on CB. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research note on Wednesday, March 5th. Piper Sandler raised their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Finally, UBS Group increased their target price on Chubb from $298.00 to $303.00 and gave the company a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $307.21.

Chubb Stock Up 0.3 %

Shares of Chubb stock opened at $283.30 on Friday. Chubb has a 1 year low of $238.85 and a 1 year high of $306.91. The firm has a market cap of $113.51 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 3.36 and a beta of 0.47. The company has a 50-day moving average of $283.03 and a 200 day moving average of $281.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, sell-side analysts anticipate that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the sale, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the transaction, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. This represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Peoples Bank KS bought a new stake in Chubb during the 1st quarter valued at $25,000. Continuum Advisory LLC lifted its stake in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares during the period. Sierra Ocean LLC bought a new position in Chubb during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new position in Chubb during the 4th quarter valued at about $29,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Chubb in the 4th quarter valued at about $30,000. 83.81% of the stock is currently owned by institutional investors.

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.