Roth Mkm Boosts Chubb (NYSE:CB) Price Target to $300.00

Chubb (NYSE:CB) had its price objective lifted by Roth Mkm from $280.00 to $300.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on CB. HSBC reiterated a hold rating and set a $270.00 price target (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. The Goldman Sachs Group upped their price target on shares of Chubb from $228.00 to $254.00 and gave the stock a neutral rating in a report on Friday, April 12th. Morgan Stanley lowered their price target on shares of Chubb from $260.00 to $259.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Piper Sandler reiterated an overweight rating and set a $282.00 price target on shares of Chubb in a report on Monday, April 1st. Finally, William Blair downgraded shares of Chubb from a market perform rating to an underperform rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $270.21.

Chubb Stock Up 3.2 %

Shares of CB opened at $270.06 on Wednesday. Chubb has a one year low of $198.10 and a one year high of $275.41. The company has a market cap of $109.66 billion, a P/E ratio of 11.99, a P/E/G ratio of 5.04 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.36 and a quick ratio of 0.29. The firm has a 50 day simple moving average of $262.03 and a two-hundred day simple moving average of $253.61.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the business earned $4.92 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. Research analysts forecast that Chubb will post 21.03 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were given a dividend of $0.91 per share. The ex-dividend date was Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.35%. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is 16.16%.

Insider Buying and Selling at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the sale, the chief accounting officer now owns 7,718 shares of the company’s stock, valued at $2,036,085.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the transaction, the chief accounting officer now owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael G. Atieh sold 716 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the transaction, the director now directly owns 39,295 shares in the company, valued at approximately $10,597,861.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,552 shares of company stock valued at $12,149,985. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chubb

Institutional investors and hedge funds have recently made changes to their positions in the stock. Beacon Capital Management LLC boosted its position in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb in the 1st quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Chubb in the 1st quarter worth about $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chubb in the 4th quarter worth about $29,000. Finally, Eagle Bay Advisors LLC raised its holdings in shares of Chubb by 82.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 133 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 60 shares during the last quarter. 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.