Morgan Stanley Raises Chubb (NYSE:CB) Price Target to $153.00

Chubb (NYSE:CB) had its target price increased by Morgan Stanley from $151.00 to $153.00 in a report published on Friday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Horiba from a hold rating to a sell rating in a research report on Wednesday, May 22nd. Compass Point lowered Chubb from a buy rating to a neutral rating and decreased their price objective for the stock from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Barclays set a $34.00 price objective on DCP Midstream and gave the stock a hold rating in a research report on Wednesday, May 22nd. UBS Group raised their price objective on Willis Towers Watson from $202.00 to $220.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Co set a $33.00 price objective on Matador Resources and gave the stock a hold rating in a research report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $148.90.

Shares of CB opened at $147.79 on Friday. The business has a 50-day moving average of $149.08. The stock has a market cap of $67.89 billion, a PE ratio of 15.66, a P/E/G ratio of 1.43 and a beta of 0.73. Chubb has a 1-year low of $119.54 and a 1-year high of $152.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $2.54 EPS for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.05. Chubb had a return on equity of 8.76% and a net margin of 11.55%. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.55 billion. During the same period last year, the company posted $2.34 EPS. Equities analysts anticipate that Chubb will post 10.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 21st were given a dividend of $0.75 per share. The ex-dividend date was Thursday, June 20th. This is a positive change from Chubb’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 2.03%. Chubb’s dividend payout ratio (DPR) is presently 31.78%.

In other news, CEO Evan G. Greenberg sold 215,648 shares of Chubb stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total transaction of $32,097,048.32. Following the completion of the sale, the chief executive officer now directly owns 1,002,730 shares in the company, valued at approximately $149,246,333.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John J. Lupica sold 10,400 shares of Chubb stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $146.37, for a total value of $1,522,248.00. Following the sale, the insider now owns 174,037 shares of the company’s stock, valued at $25,473,795.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 342,146 shares of company stock valued at $50,781,622. 0.47% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Alpha Cubed Investments LLC lifted its holdings in shares of Chubb by 4.3% during the 2nd quarter. Alpha Cubed Investments LLC now owns 1,708 shares of the financial services provider’s stock valued at $252,000 after buying an additional 70 shares during the last quarter. Buckley Wealth Management LLC lifted its holdings in shares of Chubb by 1.8% during the 1st quarter. Buckley Wealth Management LLC now owns 4,068 shares of the financial services provider’s stock valued at $570,000 after buying an additional 73 shares during the last quarter. Selway Asset Management lifted its holdings in shares of Chubb by 0.4% during the 1st quarter. Selway Asset Management now owns 18,635 shares of the financial services provider’s stock valued at $2,610,000 after buying an additional 75 shares during the last quarter. Monetary Management Group Inc. lifted its holdings in Chubb by 3.4% in the 1st quarter. Monetary Management Group Inc. now owns 2,275 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 75 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Chubb by 2.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,721 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 88.97% of the company’s stock.

About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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