Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its target price upped by equities researchers at Keefe, Bruyette & Woods from $320.00 to $328.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 27.62% from the stock’s previous close.

A number of other research firms have also recently weighed in on CB. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $294.00 to $296.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley upped their target price on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JMP Securities upped their price target on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, Evercore ISI boosted their price target on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $286.58.

Chubb Stock Down 3.6 %

Shares of Chubb stock traded down $9.63 during trading on Friday, reaching $257.02. The stock had a trading volume of 1,407,397 shares, compared to its average volume of 1,700,366. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $103.60 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 6.43 and a beta of 0.67. Chubb has a 52 week low of $224.74 and a 52 week high of $302.05. The stock has a fifty day moving average price of $279.37 and a two-hundred day moving average price of $277.92.

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

Institutional Trading of Chubb

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Chubb by 7.3% in the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after purchasing an additional 1,052,999 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after purchasing an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Chubb by 4,559.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Troy Asset Management Ltd acquired a new position in shares of Chubb in the 2nd quarter valued at $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after acquiring an additional 389,343 shares during the period. 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.