The Goldman Sachs Group Lowers Chubb (NYSE:CB) Price Target to $362.00

Chubb (NYSE:CB) had its price target cut by analysts at The Goldman Sachs Group from $372.00 to $362.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 11.26% from the stock’s previous close.

A number of other brokerages have also recently commented on CB. Citigroup upped their price target on Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Raymond James Financial upped their target price on shares of Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research note on Monday, February 9th. HSBC upped their price objective on shares of Chubb from $362.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and set a $340.00 price objective on shares of Chubb in a report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.43.

Chubb Trading Down 0.3%

Shares of CB opened at $325.37 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $126.20 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.41. The stock’s fifty day simple moving average is $324.69 and its 200-day simple moving average is $318.03. Chubb has a 12-month low of $264.10 and a 12-month high of $345.67.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion for the quarter. As a group, research analysts predict that Chubb will post 26.8 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares in the company, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Chubb

Several hedge funds have recently added to or reduced their stakes in CB. Brighton Jones LLC grew its position in shares of Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 221 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in Chubb in the 4th quarter valued at $205,000. Woodline Partners LP boosted its stake in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after purchasing an additional 1,449 shares during the period. Sivia Capital Partners LLC grew its holdings in Chubb by 14.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after buying an additional 175 shares in the last quarter. Finally, Sei Investments Co. increased its position in Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after buying an additional 17,155 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.