Brokerages Set Chubb Limited (NYSE:CB) Target Price at $302.31

Chubb Limited (NYSE:CB) has received an average rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $302.00.

Several research firms recently commented on CB. Piper Sandler reiterated a “neutral” rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Hsbc Global Res downgraded shares of Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Citigroup began coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a “buy” rating and a $326.00 price objective for the company. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a research report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods increased their target price on Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company’s stock, valued at $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GQG Partners LLC lifted its stake in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares in the last quarter. Norges Bank acquired a new position in Chubb during the 2nd quarter worth approximately $1,195,137,000. GAMMA Investing LLC boosted its holdings in Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after acquiring an additional 2,078,390 shares during the period. Nuveen LLC acquired a new stake in Chubb in the first quarter valued at approximately $562,221,000. Finally, Royal Bank of Canada raised its stake in shares of Chubb by 46.7% during the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock valued at $1,217,392,000 after purchasing an additional 1,403,545 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE:CB opened at $279.4320 on Monday. The firm has a market capitalization of $111.41 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The business’s 50 day simple moving average is $277.15 and its 200-day simple moving average is $282.46. Chubb has a 12 month low of $252.16 and a 12 month high of $306.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $5.38 earnings per share. As a group, equities analysts forecast that Chubb will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s dividend payout ratio (DPR) is currently 17.12%.

Chubb announced that its Board of Directors has approved a share repurchase program on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.