Chubb (NYSE:CB) Hits New 12-Month High After Analyst Upgrade

Chubb Limited (NYSE:CB)’s stock price reached a new 52-week high during trading on Thursday after Wolfe Research raised their price target on the stock from $336.00 to $364.00. Wolfe Research currently has an outperform rating on the stock. Chubb traded as high as $308.01 and last traded at $307.5610, with a volume of 1242090 shares. The stock had previously closed at $296.54.

A number of other equities analysts have also recently weighed in on CB. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a report on Wednesday, October 22nd. Bank of America raised their price target on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Chubb in a research report on Wednesday, October 8th. UBS Group upped their price target on shares of Chubb from $292.00 to $298.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $309.79.

Insiders Place Their Bets

In related news, insider John J. Lupica sold 23,698 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider owned 90,600 shares in the company, valued at approximately $25,458,600. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the sale, the executive vice president directly owned 60,593 shares in the company, valued at approximately $18,000,968.44. This trade represents a 8.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,333 shares of company stock valued at $16,629,873 in the last quarter. 0.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chubb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Chubb by 4.0% in the 3rd quarter. Allworth Financial LP now owns 70,280 shares of the financial services provider’s stock worth $19,836,000 after purchasing an additional 2,711 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Chubb by 16.5% in the third quarter. IFP Advisors Inc now owns 4,627 shares of the financial services provider’s stock worth $1,306,000 after buying an additional 656 shares during the period. Swiss Life Asset Management Ltd increased its position in shares of Chubb by 9.5% in the third quarter. Swiss Life Asset Management Ltd now owns 47,163 shares of the financial services provider’s stock worth $13,312,000 after acquiring an additional 4,081 shares in the last quarter. Innova Wealth Partners raised its holdings in shares of Chubb by 8.7% during the third quarter. Innova Wealth Partners now owns 813 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 65 shares during the period. Finally, Stillwater Wealth Management Group purchased a new stake in shares of Chubb in the 3rd quarter valued at approximately $1,595,000. 83.81% of the stock is owned by institutional investors.

Chubb Trading Up 3.7%

The company’s 50-day moving average is $287.29 and its 200 day moving average is $281.91. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market cap of $120.97 billion, a PE ratio of 12.82, a P/E/G ratio of 3.44 and a beta of 0.51.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The company had revenue of $16.15 billion during the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.72 earnings per share. As a group, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, December 12th. Chubb’s payout ratio is currently 16.19%.

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.