Morgan Stanley Increases Chubb (NYSE:CB) Price Target to $260.00

Chubb (NYSE:CB) had its target price increased by Morgan Stanley from $258.00 to $260.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 6.01% from the stock’s previous close.

A number of other research firms have also weighed in on CB. JMP Securities reaffirmed a “market outperform” rating and issued a $280.00 price objective on shares of Chubb in a research note on Monday. Citigroup reiterated a “neutral” rating and issued a $275.00 target price (up from $238.00) on shares of Chubb in a research report on Thursday, March 14th. BMO Capital Markets boosted their target price on Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. boosted their target price on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted their target price on Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating, nine 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 a consensus rating of “Moderate Buy” and a consensus target price of $266.37.

Chubb Stock Performance

NYSE:CB opened at $245.25 on Monday. The stock has a 50-day simple moving average of $252.50 and a two-hundred day simple moving average of $233.73. Chubb has a 52-week low of $183.71 and a 52-week high of $260.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $99.57 billion, a PE ratio of 11.23, a P/E/G ratio of 1.16 and a beta of 0.62.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.07 by $3.23. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The business had revenue of $13.38 billion during the quarter, compared to analyst estimates of $12.88 billion. Analysts forecast that Chubb will post 21.15 EPS for the current year.

Insider Transactions at Chubb

In other news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares in the company, valued at $1,495,969.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the transaction, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the transaction, the executive vice president now directly owns 35,662 shares in the company, valued at approximately $9,228,612.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,043 shares of company stock worth $29,766,694. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Occidental Asset Management LLC grew its stake in Chubb by 19.6% in the first quarter. Occidental Asset Management LLC now owns 10,136 shares of the financial services provider’s stock worth $2,627,000 after purchasing an additional 1,661 shares in the last quarter. Webster Bank N. A. grew its stake in Chubb by 6.5% in the first quarter. Webster Bank N. A. now owns 5,077 shares of the financial services provider’s stock worth $1,316,000 after purchasing an additional 312 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in Chubb by 1.6% during the 1st quarter. Harbour Capital Advisors LLC now owns 3,768 shares of the financial services provider’s stock valued at $966,000 after acquiring an additional 59 shares in the last quarter. AMF Tjanstepension AB boosted its position in Chubb by 2.2% during the 1st quarter. AMF Tjanstepension AB now owns 45,242 shares of the financial services provider’s stock valued at $11,753,000 after acquiring an additional 990 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in Chubb by 17.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,747 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 413 shares in the last quarter. 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.