Chubb (NYSE:CB) Given New $271.00 Price Target at Bank of America

Chubb (NYSE:CB) had its price target decreased by Bank of America from $286.00 to $271.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Bank of America currently has an underperform rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on CB. Citizens Jmp restated a “market outperform” rating and issued a $350.00 target price on shares of Chubb in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Wells Fargo & Company dropped their target price on shares of Chubb from $322.00 to $321.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a research report on Monday, March 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Chubb from $333.00 to $356.00 and gave the company a “hold” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $345.90.

Chubb Stock Down 1.3%

Shares of CB opened at $325.77 on Tuesday. Chubb has a 12 month low of $264.10 and a 12 month high of $345.67. The firm’s 50 day moving average is $329.16 and its 200-day moving average is $307.59. The stock has a market capitalization of $127.13 billion, a PE ratio of 12.66, a P/E/G ratio of 1.75 and a beta of 0.49. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $6.02 EPS. Equities research analysts forecast that Chubb will post 21.52 EPS for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, March 13th. Chubb’s dividend payout ratio is currently 15.08%.

Insider Buying and Selling

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. This represents a 70.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the transaction, the director owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 44,877 shares of company stock worth $14,885,226 in the last three months. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chubb

A number of institutional investors have recently added to or reduced their stakes in CB. Berkshire Hathaway Inc grew its holdings in Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after acquiring an additional 4,299,111 shares during the last quarter. Norges Bank bought a new stake in Chubb during the 4th quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD grew its holdings in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after acquiring an additional 3,049,987 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Chubb during the 4th quarter worth approximately $795,378,000. Finally, GQG Partners LLC grew its holdings in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after acquiring an additional 1,647,729 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.