Chubb (NYSE:CB) Price Target Raised to $374.00

Chubb (NYSE:CB) had its price target increased by research analysts at Barclays from $339.00 to $374.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 14.58% from the company’s current price.

A number of other equities analysts also recently issued reports on CB. BMO Capital Markets increased their price target on shares of Chubb from $283.00 to $326.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 10th. Wolfe Research raised their target price on shares of Chubb from $364.00 to $372.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Cantor Fitzgerald raised their target price on shares of Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Jefferies Financial Group raised their target price on shares of Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Finally, Wells Fargo & Company raised their target price on shares of Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $345.19.

Chubb Price Performance

CB stock opened at $326.40 on Tuesday. Chubb has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a market cap of $127.37 billion, a P/E ratio of 12.69, a PEG ratio of 1.75 and a beta of 0.49. The firm has a 50-day moving average of $326.55 and a 200 day moving average of $305.36. 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 released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same period in the prior year, the firm earned $6.02 earnings per share. Chubb’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Chubb will post 21.52 EPS for the current year.

Insider Activity

In other news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the sale, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,877 shares of company stock worth $14,885,226 over the last 90 days. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chubb

A number of institutional investors have recently made changes to their positions in CB. Berkshire Hathaway Inc grew its holdings in shares of Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after buying an additional 4,299,111 shares during the last quarter. Norges Bank purchased a new stake in Chubb in the fourth quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD boosted its holdings in Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Chubb in the fourth quarter worth approximately $795,378,000. Finally, GQG Partners LLC boosted its holdings in Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Company Profile

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.