Chubb (NYSE:CB) Price Target Raised to $340.00 at JPMorgan Chase & Co.

Chubb (NYSE:CB) had its price target boosted by JPMorgan Chase & Co. from $330.00 to $340.00 in a research note released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other research firms have also issued reports on CB. Citigroup increased their price target on Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Roth Mkm raised their target price on Chubb from $330.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. UBS Group reissued a “neutral” rating and set a $340.00 target price on shares of Chubb in a research report on Monday, February 9th. The Goldman Sachs Group raised their target price on Chubb from $368.00 to $372.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group raised their target price on Chubb from $333.00 to $356.00 and gave the stock a “hold” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $346.33.

Chubb Price Performance

CB stock opened at $329.76 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $128.68 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.76 and a beta of 0.49. The business’s 50-day moving average is $329.13 and its two-hundred day moving average is $308.94. Chubb has a 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.Chubb’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.02 EPS. Analysts anticipate that Chubb will post 26.36 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the transaction, the executive vice president owned 11,810 shares of the company’s stock, valued at $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 44,877 shares of company stock valued at $14,885,226 over the last quarter. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CB. Berkshire Hathaway Inc increased its holdings in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares during the period. Norges Bank acquired a new position in shares of Chubb in the fourth quarter valued at approximately $1,081,190,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Chubb in the fourth quarter valued at approximately $795,378,000. Finally, GQG Partners LLC increased its holdings in shares of Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after purchasing an additional 1,647,729 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Company Profile

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.