Chubb (NYSE:CB) Shares Up 1% After Analyst Upgrade

Chubb Limited (NYSE:CB) traded up 1% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $290.00 to $291.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Chubb traded as high as $282.96 and last traded at $282.68. Approximately 157,553 shares changed hands during trading, a decline of 90% from the average session volume of 1,626,897 shares. The stock had previously closed at $279.96.

A number of other research firms also recently issued reports on CB. Royal Bank of Canada lifted their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Roth Mkm boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America raised their target price on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday. Piper Sandler lifted their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group increased their price target on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $282.37.

Insider Buying and Selling

In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,636 shares of company stock valued at $24,874,208. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Several hedge funds have recently modified their holdings of the stock. Pathway Financial Advisers LLC acquired a new stake in Chubb during the 1st quarter valued at approximately $25,000. Beacon Capital Management LLC boosted its holdings in shares of Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Chilton Capital Management LLC acquired a new position in Chubb during the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new position in Chubb in the 2nd quarter worth approximately $28,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Chubb in the fourth quarter worth $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $115.92 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 5.87 and a beta of 0.66. The company’s 50 day simple moving average is $281.82 and its 200 day simple moving average is $266.43.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.92 EPS. On average, equities research analysts anticipate that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio (DPR) is currently 15.38%.

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.