Chubb (NYSE:CB) Stock Rating Upgraded by Wolfe Research

Chubb (NYSE:CB) was upgraded by analysts at Wolfe Research to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Barclays lowered Chubb from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Cantor Fitzgerald raised Chubb to a “hold” rating in a research report on Wednesday, August 13th. Evercore ISI set a $312.00 target price on Chubb in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $283.00 price objective (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $303.06.

Chubb Price Performance

NYSE CB opened at $272.14 on Tuesday. Chubb has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock’s 50-day moving average is $273.96 and its two-hundred day moving average is $283.18. 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 firm has a market cap of $108.50 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 3.07 and a beta of 0.56.

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

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael Corbat bought 425 shares of the company’s stock in a transaction on Friday, July 25th. The stock was bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider owned 91,180 shares of the company’s stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Chubb

Institutional investors and hedge funds have recently made changes to their positions in the company. Peoples Bank KS acquired a new position in shares of Chubb in the 1st quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the 1st quarter worth about $25,000. North Capital Inc. acquired a new position in shares of Chubb during the 1st quarter worth about $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the 1st quarter valued at about $31,000. Finally, 1248 Management LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $31,000. 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.