Chubb (NYSE:CB) Price Target Raised to $350.00

Chubb (NYSE:CB) had its price target raised by Citizens Jmp from $325.00 to $350.00 in a research note published on Friday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on CB. Deutsche Bank Aktiengesellschaft raised their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, November 24th. Evercore ISI reiterated an “outperform” rating and set a $346.00 price objective on shares of Chubb in a research note on Wednesday, January 7th. HSBC boosted their price objective on Chubb from $302.00 to $304.00 in a report on Wednesday, October 29th. Bank of America raised their target price on Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a report on Monday, October 13th. Finally, The Goldman Sachs Group upgraded Chubb from a “neutral” rating to a “buy” rating and lifted their price target for the company from $309.00 to $351.00 in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $323.81.

Chubb Price Performance

Shares of CB stock opened at $300.60 on Friday. Chubb has a 1-year low of $263.14 and a 1-year high of $316.94. The stock’s 50-day moving average is $303.22 and its 200 day moving average is $285.94. The company has a market cap of $118.30 billion, a P/E ratio of 12.55, a PEG ratio of 3.14 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping the consensus estimate of $5.51 by $1.98. The firm had revenue of $16.15 billion during the quarter, compared to analyst estimates of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. Chubb’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.72 EPS. Research analysts predict that Chubb will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s payout ratio is presently 16.19%.

Insider Activity

In other Chubb news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the transaction, the executive vice president owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 850 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $295.19, for a total value of $250,911.50. Following the sale, the executive vice president owned 1,585 shares of the company’s stock, valued at $467,876.15. The trade was a 34.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,333 shares of company stock worth $16,629,873 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chubb

Hedge funds and other institutional investors have recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its stake in Chubb by 10.1% during the fourth quarter. Perigon Wealth Management LLC now owns 12,997 shares of the financial services provider’s stock worth $4,057,000 after buying an additional 1,188 shares during the period. Balboa Wealth Partners acquired a new position in Chubb during the fourth quarter worth $260,000. Omnia Family Wealth LLC grew its stake in shares of Chubb by 30.4% in the fourth quarter. Omnia Family Wealth LLC now owns 982 shares of the financial services provider’s stock valued at $307,000 after buying an additional 229 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Chubb during the 4th quarter worth about $156,000. Finally, Marquette Asset Management LLC boosted its holdings in Chubb by 167.3% during the 4th quarter. Marquette Asset Management LLC now owns 139 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 87 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.