Morgan Stanley Raises Chubb (NYSE:CB) Price Target to $260.00

Chubb (NYSE:CB) had its target price upped by Morgan Stanley from $258.00 to $260.00 in a research note released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on CB. Citigroup reiterated a neutral rating and issued a $275.00 target price (up from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Evercore ISI lifted their target price on Chubb from $270.00 to $281.00 and gave the company an outperform rating in a research note on Thursday, April 11th. HSBC reiterated a hold rating and issued a $270.00 target price (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. TD Cowen initiated coverage on Chubb in a research note on Wednesday, January 10th. They issued a market perform rating and a $254.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on Chubb from $234.00 to $255.00 and gave the company an equal weight rating in a research note on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $266.37.

Chubb Trading Down 0.7 %

NYSE:CB opened at $243.46 on Monday. The stock’s 50 day moving average price is $252.43 and its 200 day moving average price is $233.80. The company has a market capitalization of $98.84 billion, a PE ratio of 11.15, a P/E/G ratio of 1.16 and a beta of 0.62. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. Chubb has a 52-week low of $183.71 and a 52-week high of $260.58.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.07 by $3.23. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The firm had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $12.88 billion. On average, research analysts anticipate that Chubb will post 21.15 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.86 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.41%. Chubb’s payout ratio is 15.76%.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the sale, the executive vice president now directly owns 35,662 shares in the company, valued at $9,228,612.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the sale, the executive vice president now directly owns 35,662 shares in the company, valued at $9,228,612.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the completion of the sale, the insider now owns 130,937 shares in the company, valued at $33,902,208.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,043 shares of company stock worth $29,766,694. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of Chubb

Institutional investors and hedge funds have recently made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new stake in shares of Chubb in the fourth quarter valued at $25,000. IMA Wealth Inc. increased its stake in Chubb by 275.7% in the second quarter. IMA Wealth Inc. now owns 139 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Chubb in the third quarter valued at $28,000. ZRC Wealth Management LLC acquired a new position in Chubb in the fourth quarter valued at $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Chubb in the fourth quarter valued at $29,000. 83.81% of the stock is currently owned by hedge funds and other 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.