Barclays Cuts Chubb (NYSE:CB) Price Target to $321.00

Chubb (NYSE:CB) had its target price decreased by Barclays from $324.00 to $321.00 in a research report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently commented on CB. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on shares of Chubb from $329.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Finally, Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $307.21.

Chubb Stock Performance

Chubb stock opened at $283.30 on Friday. The stock has a market cap of $113.51 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 3.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $283.03 and a 200-day simple moving average of $281.22. Chubb has a 1-year low of $238.85 and a 1-year high of $306.91.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, analysts expect that Chubb will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, March 14th. Chubb’s payout ratio is presently 16.02%.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 12,231 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the transaction, the executive vice president now owns 78,422 shares in the company, valued at approximately $23,120,374.04. This represents a 13.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the sale, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chubb

Several hedge funds and other institutional investors have recently bought and sold shares of CB. Continuum Advisory LLC increased its position in shares of Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares in the last quarter. First Financial Bank Trust Division grew its stake in Chubb by 3.7% during the 4th quarter. First Financial Bank Trust Division now owns 1,026 shares of the financial services provider’s stock worth $283,000 after buying an additional 37 shares during the last quarter. Rede Wealth LLC grew its stake in Chubb by 2.0% during the 4th quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock worth $525,000 after buying an additional 37 shares during the last quarter. Sfmg LLC increased its position in Chubb by 2.4% during the third quarter. Sfmg LLC now owns 1,681 shares of the financial services provider’s stock worth $485,000 after buying an additional 40 shares during the period. Finally, United Asset Strategies Inc. lifted its stake in Chubb by 1.3% in the fourth quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock valued at $851,000 after buying an additional 40 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.