Chubb (NYSE:CB) Stock Price Up 0.2% Following Analyst Upgrade

Chubb Limited (NYSE:CB)’s stock price traded up 0.2% during trading on Friday after Piper Sandler raised their price target on the stock from $281.00 to $305.00. Piper Sandler currently has an overweight rating on the stock. Chubb traded as high as $290.21 and last traded at $289.16. 218,802 shares changed hands during trading, a decline of 87% from the average session volume of 1,627,791 shares. The stock had previously closed at $288.54.

A number of other equities analysts also recently commented on the stock. Roth Mkm raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JMP Securities raised their target price on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods raised their price target on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb currently has a consensus rating of “Hold” and an average price target of $276.40.

Insider Activity

In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 over the last ninety days. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Research Global Investors increased its stake in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Capital World Investors increased its position in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the period. Confluence Investment Management LLC acquired a new stake in Chubb in the 1st quarter worth about $165,932,000. Lazard Asset Management LLC boosted its holdings in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after purchasing an additional 457,881 shares during the period. Finally, Troy Asset Management Ltd acquired a new position in shares of Chubb during the 2nd quarter worth approximately $106,975,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

The company has a market capitalization of $117.89 billion, a P/E ratio of 12.89, a PEG ratio of 5.74 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is $280.84 and its 200 day moving average price is $265.54.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.92 EPS. As a group, sell-side analysts forecast that Chubb Limited will post 21.21 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

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.