Barclays Issues Pessimistic Forecast for Chubb (NYSE:CB) Stock Price

Chubb (NYSE:CB) had its price objective cut by equities researchers at Barclays from $349.00 to $324.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 20.78% from the company’s previous close.

Several other research firms have also weighed in on CB. Piper Sandler raised their target price on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods boosted their target price on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $294.00 to $296.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Finally, Evercore ISI raised their target price on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $286.16.

Chubb Price Performance

Shares of NYSE:CB opened at $268.26 on Monday. The firm has a market cap of $108.14 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 6.43 and a beta of 0.67. Chubb has a 1 year low of $222.85 and a 1 year high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $280.03 and a 200 day simple moving average of $278.08.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period in the previous year, the company earned $4.95 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Chubb will post 21.82 earnings per share for the current fiscal year.

Institutional Trading of Chubb

A number of institutional investors and hedge funds have recently modified their holdings of CB. Continuum Advisory LLC raised its position in shares of Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares during the period. Kozak & Associates Inc. acquired a new stake in Chubb during the 3rd quarter worth approximately $29,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Chubb during the 3rd quarter worth approximately $29,000. Raelipskie Partnership bought a new position in Chubb in the third quarter valued at approximately $29,000. Finally, Truvestments Capital LLC acquired a new position in shares of Chubb in the third quarter valued at approximately $30,000. 83.81% of the stock is owned by institutional investors.

Chubb Company Profile

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.