Chubb (NYSE:CB) Given New $300.00 Price Target at Morgan Stanley

Chubb (NYSE:CB) had its price target hoisted by Morgan Stanley from $280.00 to $300.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Barclays cut their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Piper Sandler upped their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $307.86.

Chubb Stock Down 0.0%

CB opened at $294.29 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The stock has a market capitalization of $117.93 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The business has a 50-day moving average of $288.63 and a two-hundred day moving average of $280.78. Chubb has a 12 month low of $251.42 and a 12 month high of $306.91.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The business had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. On average, research analysts expect that Chubb will post 21.52 earnings per share for the current year.

Chubb announced that its Board of Directors has authorized a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.32%. Chubb’s dividend payout ratio (DPR) is currently 17.52%.

Insiders Place Their Bets

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. This represents a 3.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at $22,297,652.88. The trade was a 11.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock valued at $18,562,730 over the last three months. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Chubb

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Peoples Bank KS purchased a new stake in Chubb in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb in the 1st quarter worth about $25,000. North Capital Inc. purchased a new stake in Chubb in the 1st quarter worth about $26,000. Sierra Ocean LLC purchased a new stake in Chubb in the 4th quarter worth about $29,000. Finally, Crowley Wealth Management Inc. purchased a new stake in Chubb in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.