Chubb (NYSE:CB) Price Target Raised to $303.00 at The Goldman Sachs Group

Chubb (NYSE:CB) had its price objective increased by The Goldman Sachs Group from $299.00 to $303.00 in a report released on Monday,MarketScreener reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

A number of other research firms have also weighed in on CB. Citigroup began coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 target price for the company. Wells Fargo & Company cut their price objective on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. Morgan Stanley decreased their target price on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. UBS Group dropped their price target on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $303.72.

Chubb Stock Up 0.8%

Shares of Chubb stock opened at $286.37 on Monday. Chubb has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $275.17 and a two-hundred day moving average price of $282.03. The stock has a market capitalization of $114.17 billion, a P/E ratio of 12.63, a PEG ratio of 3.20 and a beta of 0.54.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. Chubb’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 earned $5.38 earnings per share. Equities analysts expect that Chubb will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

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

Insider Buying and Selling

In other news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by company insiders.

Institutional Trading of Chubb

Institutional investors have recently made changes to their positions in the business. Brighton Jones LLC raised its position 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 in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Chubb during the 4th quarter worth approximately $205,000. RDA Financial Network acquired a new stake in Chubb in the 1st quarter valued at $215,000. Miracle Mile Advisors LLC grew its position in Chubb by 55.6% in the first quarter. Miracle Mile Advisors LLC now owns 9,941 shares of the financial services provider’s stock valued at $3,002,000 after acquiring an additional 3,551 shares during the period. Finally, OLD National Bancorp IN grew its position in Chubb by 4.3% in the first quarter. OLD National Bancorp IN now owns 4,213 shares of the financial services provider’s stock valued at $1,272,000 after acquiring an additional 172 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.