Chubb (NYSE:CB) PT Lowered to $285.00

Chubb (NYSE:CB) had its price target cut by research analysts at Royal Bank of Canada from $295.00 to $285.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 16.15% from the company’s current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets upped their target price on Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research note on Monday, February 5th. The Goldman Sachs Group lifted their target price on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JMP Securities restated a “market outperform” rating and set a $280.00 price objective on shares of Chubb in a research report on Monday, April 15th. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 price objective on shares of Chubb in a report on Monday, April 1st. Finally, StockNews.com cut Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $266.89.

Chubb Price Performance

Shares of NYSE CB opened at $245.38 on Thursday. The stock has a fifty day moving average of $252.33 and a 200-day moving average of $235.52. The stock has a market cap of $99.62 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.35. Chubb has a fifty-two week low of $183.71 and a fifty-two week high of $260.58.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the previous year, the firm earned $4.41 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that Chubb will post 21.32 earnings per share for the current year.

Insider Buying and Selling at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,303 shares of Chubb stock in a transaction that occurred 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 approximately $9,228,612.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the transaction, the insider now owns 130,937 shares in the company, valued at $33,902,208.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The disclosure for this sale can be found here. Insiders sold 116,043 shares of company stock valued at $29,766,694 in the last 90 days. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CB. Deutsche Bank AG raised its holdings in Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after purchasing an additional 13,059,385 shares in the last quarter. Norges Bank bought a new position in shares of Chubb in the 4th quarter worth about $957,756,000. Confluence Investment Management LLC bought a new position in shares of Chubb in the 1st quarter worth about $165,932,000. Bank of Nova Scotia lifted its position in Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after acquiring an additional 518,535 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after acquiring an additional 495,860 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

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.