Chubb (NYSE:CB) Price Target Raised to $380.00 at Raymond James Financial

Chubb (NYSE:CB) had its target price lifted by Raymond James Financial from $340.00 to $380.00 in a research note released on Monday morning,Benzinga reports. They currently have a strong-buy rating on the financial services provider’s stock.

CB has been the subject of several other research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $283.00 target price on shares of Chubb in a report on Thursday, October 23rd. UBS Group raised their price objective on shares of Chubb from $292.00 to $298.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Wells Fargo & Company upped their target price on Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Morgan Stanley set a $350.00 target price on Chubb in a research note on Friday, January 16th. Finally, Mizuho boosted their price target on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Hold” and an average price target of $338.14.

Chubb Stock Performance

Shares of NYSE CB opened at $326.25 on Monday. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $128.40 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.12 and a beta of 0.49. Chubb has a 12 month low of $263.14 and a 12 month high of $335.59. The stock has a 50 day moving average of $308.06 and a 200-day moving average of $289.69.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the prior year, the business earned $6.02 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that Chubb will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were paid 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, December 12th. Chubb’s dividend payout ratio (DPR) is 15.08%.

Insider Buying and Selling

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 10,580 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $296.17, for a total value of $3,133,478.60. Following the completion of the transaction, the executive vice president owned 12,660 shares in the company, valued at $3,749,512.20. The trade was a 45.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,695 shares of company stock valued at $14,962,673 over the last 90 days. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chubb

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Berkshire Hathaway Inc raised its position in Chubb by 15.9% during 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 in the last quarter. Norges Bank bought a new stake in shares of Chubb during the 2nd quarter worth $1,195,137,000. AQR Capital Management LLC lifted its position in shares of Chubb by 75.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after buying an additional 1,199,963 shares during the last quarter. Woodline Partners LP acquired a new stake in Chubb in the third quarter valued at about $220,217,000. Finally, Amundi grew its position in Chubb by 55.4% in the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock valued at $557,493,000 after acquiring an additional 693,740 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Key Chubb News

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Raymond James raised its price target from $340 to $380 and assigned a “strong-buy,” signaling meaningful upside relative to current levels; this is likely supporting buying interest. Raymond James Price Target Raise
• Positive Sentiment: Multiple broker notes have lifted price targets in recent sessions (examples include raises to $357, $333, $372 and $336), which collectively increase analyst-implied valuation and provide upward pressure on the share price. Price Target Raises
• Positive Sentiment: Independent commentary (The Motley Fool) is promoting Chubb as a safer/better insurance play versus higher-volatility peers, a narrative that can attract relative-value flows into CB. Fool: Buy This Instead
• Neutral Sentiment: Despite several target increases, the brokerage consensus rating remains a “Hold,” which could limit broad-based upgrades and temper further rallies until earnings/earnings guidance convinces more firms to move to Buy. Consensus Hold Report
• Negative Sentiment: Insider activity: CEO Evan G. Greenberg sold 15,060 shares on Feb 5 at an average $331.47 (~$5.0M). While his remaining stake is large, the sale is a short-term supply event and can be perceived negatively by some investors. SEC filing: Insider Sale Filing

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.