Chubb (NYSE:CB) PT Raised to $156.00
Chubb (NYSE:CB) had its target price lifted by UBS Group from $154.00 to $156.00 in a research note released on Wednesday, Stock Target Advisor reports. They currently have a neutral rating on the financial services provider’s stock.
CB has been the subject of several other reports. Morgan Stanley set a $60.00 price target on Berry Global Group and gave the company a hold rating in a report on Wednesday, April 17th. Wells Fargo & Co reaffirmed a buy rating and issued a $157.00 target price on shares of Chubb in a research report on Tuesday, April 30th. Atlantic Securities lowered Chubb from a neutral rating to an underweight rating and set a $135.00 target price for the company. in a research note on Thursday, June 20th. Sandler O’Neill upgraded Independent Bank from a hold rating to a buy rating in a research note on Wednesday, April 3rd. Finally, ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chubb has a consensus rating of Hold and a consensus target price of $148.90.
CB opened at $149.37 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. Chubb has a 52-week low of $119.54 and a 52-week high of $152.00. The stock’s 50 day simple moving average is $148.54. The stock has a market capitalization of $68.13 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.42 and a beta of 0.72.
The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were paid a dividend of $0.75 per share. This is an increase from Chubb’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $3.00 annualized dividend and a yield of 2.01%. Chubb’s payout ratio is 31.78%.
In related news, CAO Paul Bennett Medini sold 2,750 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $145.52, for a total value of $400,180.00. Following the completion of the transaction, the chief accounting officer now owns 91,659 shares of the company’s stock, valued at $13,338,217.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul J. Krump sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $150.00, for a total value of $600,000.00. Following the sale, the insider now owns 123,865 shares of the company’s stock, valued at approximately $18,579,750. The disclosure for this sale can be found here. Insiders sold a total of 342,146 shares of company stock worth $50,781,622 in the last quarter. 0.47% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CB. Comerica Securities Inc. lifted its holdings in Chubb by 45.3% in the 4th quarter. Comerica Securities Inc. now owns 7,343 shares of the financial services provider’s stock worth $953,000 after purchasing an additional 2,290 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Chubb by 10.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,012 shares of the financial services provider’s stock valued at $390,000 after buying an additional 280 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chubb by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,095,870 shares of the financial services provider’s stock worth $270,734,000 after buying an additional 21,037 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Chubb by 0.8% in the fourth quarter. Brown Advisory Inc. now owns 80,599 shares of the financial services provider’s stock worth $10,413,000 after buying an additional 637 shares in the last quarter. Finally, Magnus Financial Group LLC bought a new position in shares of Chubb during the fourth quarter worth $209,000. 89.00% of the stock is currently owned by institutional investors.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
Featured Story: Why is the price target of stocks important?
Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.