Chubb (NYSE:CB) Given New $370.00 Price Target at JPMorgan Chase & Co.

Chubb (NYSE:CB) had its price objective upped by JPMorgan Chase & Co. from $340.00 to $370.00 in a research note issued to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. Bank of America decreased their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft upped their price target on Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a report on Monday, March 23rd. The Goldman Sachs Group increased their price objective on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Citigroup restated an “outperform” rating on shares of Chubb in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and an average price target of $359.09.

Chubb Stock Up 0.2%

Chubb stock opened at $352.75 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb has a fifty-two week low of $264.10 and a fifty-two week high of $365.29. The firm has a fifty day moving average price of $332.98 and a two-hundred day moving average price of $326.03. The firm has a market cap of $136.82 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.82 and a beta of 0.40.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, analysts forecast that Chubb will post 26.75 earnings per share for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a $1.02 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is currently 14.41%.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Chubb in the fourth quarter valued at about $1,081,190,000. Price T Rowe Associates Inc. MD raised its position in 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 worth $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. Berkshire Hathaway Inc lifted its stake in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Chubb during the fourth quarter worth about $795,378,000. Finally, GQG Partners LLC boosted its holdings in Chubb by 15.2% during 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 in 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.