Chubb (NYSE:CB) Price Target Cut to $259.00

Chubb (NYSE:CB) had its price target cut by analysts at Morgan Stanley from $260.00 to $259.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 0.37% from the stock’s current price.

Other analysts also recently issued reports about the company. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Citigroup reissued a “neutral” rating and set a $275.00 target price (up from $238.00) on shares of Chubb in a research report on Thursday, March 14th. JPMorgan Chase & Co. lifted their price target on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. HSBC restated a “hold” rating and issued a $270.00 target price (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Finally, Piper Sandler reissued an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $267.65.

Chubb Stock Performance

NYSE:CB opened at $258.04 on Wednesday. The company has a market capitalization of $104.78 billion, a PE ratio of 11.45, a P/E/G ratio of 6.11 and a beta of 0.66. Chubb has a fifty-two week low of $186.52 and a fifty-two week high of $275.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50 day simple moving average of $260.45 and a two-hundred day simple moving average of $250.53.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the prior year, the firm posted $4.41 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that Chubb will post 21.03 earnings per share for the current year.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 34,707 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the sale, the chief operating officer now owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock valued at $12,149,985 in the last 90 days. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chubb

A number of institutional investors have recently added to or reduced their stakes in CB. Alphinity Investment Management Pty Ltd lifted its stake in Chubb by 155.8% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after purchasing an additional 324,019 shares during the last quarter. ING Groep NV boosted its stake in Chubb by 175,378.1% in the fourth quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock worth $25,381,000 after buying an additional 112,242 shares in the last quarter. Graypoint LLC raised its stake in shares of Chubb by 1,275.7% during the fourth quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after acquiring an additional 29,302 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Chubb in the 4th quarter worth approximately $1,403,000. Finally, Bison Wealth LLC bought a new stake in shares of Chubb in the 4th quarter worth approximately $263,000. 83.81% of the stock is currently owned by institutional investors.

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.