Chubb (NYSE:CB) Price Target Raised to $315.00

Chubb (NYSE:CB) had its price target increased by Evercore ISI from $312.00 to $315.00 in a research report sent to investors on Wednesday morning, Marketbeat.com reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

A number of other research firms also recently commented on CB. Cantor Fitzgerald raised Chubb to a “hold” rating in a report on Wednesday, August 13th. Citigroup initiated coverage on shares of Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Finally, Hsbc Global Res lowered Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Hold” and an average target price of $303.24.

Chubb Price Performance

Shares of NYSE CB opened at $283.99 on Wednesday. The stock has a fifty day moving average price of $274.76 and a 200 day moving average price of $282.25. Chubb has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $113.22 billion, a PE ratio of 12.53, a P/E/G ratio of 3.17 and a beta of 0.54.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm earned $5.38 EPS. Chubb’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that Chubb will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb’s payout ratio is presently 17.12%.

Insider Activity at Chubb

In related news, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Institutional Trading of Chubb

A number of hedge funds and other institutional investors have recently modified their holdings of CB. Opal Wealth Advisors LLC acquired a new stake in Chubb during the 1st quarter valued at approximately $25,000. North Capital Inc. purchased a new position in shares of Chubb during the 1st quarter valued at approximately $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Chubb during the first quarter worth approximately $31,000. 1248 Management LLC bought a new stake in shares of Chubb in the first quarter worth $31,000. Finally, WPG Advisers LLC acquired a new stake in Chubb in the first quarter valued at $33,000. 83.81% of the stock is 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.