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

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

Other research analysts have also issued reports about the company. StockNews.com raised Chubb from a hold rating to a buy rating in a research report on Saturday, March 30th. Wells Fargo & Company upped their target price on Chubb from $234.00 to $255.00 and gave the company an equal weight rating in a research report on Thursday, February 1st. The Goldman Sachs Group boosted their price target on Chubb from $228.00 to $254.00 and gave the company a neutral rating in a research note on Friday, April 12th. Roth Mkm boosted their price target on Chubb from $260.00 to $280.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets boosted their price target on Chubb from $220.00 to $240.00 and gave the company a market perform rating in a research note on Monday, February 5th. Nine investment 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 MarketBeat, Chubb has an average rating of Moderate Buy and a consensus price target of $266.37.

Chubb Stock Up 0.8 %

Shares of CB stock opened at $245.39 on Monday. The stock’s fifty day moving average price is $252.45 and its 200 day moving average price is $233.88. Chubb has a 1-year low of $183.71 and a 1-year high of $260.58. The company has a market cap of $99.63 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.07 by $3.23. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The company had revenue of $13.38 billion for the quarter, compared to analyst estimates of $12.88 billion. On average, research analysts expect that Chubb will post 21.13 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.40%. Chubb’s payout ratio is 15.76%.

Insiders Place Their Bets

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the transaction, the chief accounting officer now owns 6,105 shares in the company, valued at $1,495,969.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total value of $3,701,330.34. Following the transaction, the executive vice president now directly owns 35,662 shares of the company’s stock, valued at approximately $9,228,612.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,043 shares of company stock worth $29,766,694. 0.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chubb

A number of hedge funds have recently made changes to their positions in CB. Deutsche Bank AG raised its holdings in shares of Chubb by 426.8% during the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after acquiring an additional 13,059,385 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Chubb by 102,751.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock valued at $1,828,733,000 after purchasing an additional 8,281,754 shares during the last quarter. Norges Bank acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $957,756,000. 1832 Asset Management L.P. increased its holdings in shares of Chubb by 1,476.9% in the fourth quarter. 1832 Asset Management L.P. now owns 999,392 shares of the financial services provider’s stock valued at $220,466,000 after purchasing an additional 936,015 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Chubb by 25.0% in the fourth quarter. Legal & General Group Plc now owns 3,597,558 shares of the financial services provider’s stock valued at $813,049,000 after purchasing an additional 718,535 shares during the last quarter. Institutional investors and hedge funds 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.