Chubb (NYSE:CB) Given New $315.00 Price Target at Evercore ISI

Chubb (NYSE:CB) had its target price upped by Evercore ISI from $312.00 to $315.00 in a report released on Wednesday morning, MarketBeat.com reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. Barclays downgraded shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. Wolfe Research raised shares of Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Morgan Stanley cut their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Citigroup started coverage on shares of Chubb in a report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and an average price target of $303.24.

Chubb Trading Down 0.2%

Shares of CB stock opened at $281.65 on Wednesday. The company has a 50 day moving average of $274.24 and a 200-day moving average of $282.44. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market cap of $112.29 billion, a P/E ratio of 12.42, a PEG ratio of 3.19 and a beta of 0.54.

Chubb (NYSE:CB) last issued its quarterly earnings results 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. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business posted $5.38 EPS. Chubb’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Chubb will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s payout ratio is currently 17.12%.

Insider Activity

In related news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chubb

A number of hedge funds and other institutional investors have recently bought and sold shares of CB. Brighton Jones LLC grew its holdings in Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Chubb in the fourth quarter worth about $205,000. Two Sigma Advisers LP grew its holdings in Chubb by 83.8% in the fourth quarter. Two Sigma Advisers LP now owns 2,413 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 1,100 shares during the period. Fiduciary Alliance LLC purchased a new stake in Chubb in the first quarter worth about $255,000. Finally, Merit Financial Group LLC grew its holdings in Chubb by 70.1% in the first quarter. Merit Financial Group LLC now owns 15,422 shares of the financial services provider’s stock worth $4,657,000 after purchasing an additional 6,355 shares during the period. Hedge funds and other institutional investors 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.