Chubb (NYSE:CB) Given New $335.00 Price Target at Piper Sandler

Chubb (NYSE:CB) had its price target increased by analysts at Piper Sandler from $310.00 to $335.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 10.86% from the stock’s previous close.

A number of other analysts have also issued reports on CB. JMP Securities restated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a report on Wednesday, March 5th. Barclays dropped their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of Chubb in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus price target of $303.14.

Chubb Stock Performance

NYSE CB opened at $302.19 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market cap of $121.00 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb has a fifty-two week low of $238.85 and a fifty-two week high of $303.66. The business has a fifty day moving average of $279.92 and a 200-day moving average of $281.51.

Chubb (NYSE:CB) last released its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, analysts predict that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Activity at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now owns 29,194 shares in the company, valued at approximately $8,644,927.28. This trade represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chubb

A number of large investors have recently added to or reduced their stakes in the company. CreativeOne Wealth LLC acquired a new stake in shares of Chubb during the third quarter valued at about $266,000. Atom Investors LP acquired a new stake in Chubb during the 3rd quarter valued at approximately $575,000. Benjamin Edwards Inc. grew its stake in Chubb by 1,909.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 47,305 shares of the financial services provider’s stock valued at $13,643,000 after purchasing an additional 44,951 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in Chubb by 18.6% during the 3rd quarter. Hilltop Holdings Inc. now owns 3,870 shares of the financial services provider’s stock worth $1,116,000 after purchasing an additional 606 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its position in shares of Chubb by 43.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 12,829 shares of the financial services provider’s stock valued at $3,700,000 after purchasing an additional 3,900 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

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.