Chubb (NYSE:CB) Price Target Raised to $296.00

Chubb (NYSE:CB) had its price objective boosted by JPMorgan Chase & Co. from $294.00 to $296.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on CB. JMP Securities increased their target price on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Evercore ISI increased their price target on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $287.47.

Chubb Stock Performance

Shares of CB stock opened at $271.73 on Friday. The firm has a market capitalization of $109.53 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 6.43 and a beta of 0.67. The company has a 50 day moving average price of $281.19 and a 200 day moving average price of $277.76. Chubb has a one year low of $222.85 and a one year high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period last year, the company posted $4.95 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Chubb will post 21.82 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Friday, December 13th. Chubb’s dividend payout ratio is presently 14.91%.

Institutional Investors Weigh In On Chubb

A number of institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Chubb by 7.3% during the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after purchasing an additional 1,052,999 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc lifted its position in shares of Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after buying an additional 104,986 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Chubb by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock valued at $586,207,000 after buying an additional 160,335 shares during the period. Finally, Barclays PLC grew its position in shares of Chubb by 28.1% during the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after buying an additional 388,746 shares during the last quarter. 83.81% of the stock is currently owned by 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.