Chubb (NYSE:CB) Stock Rating Reaffirmed as “Neutral” by Cantor Fitzgerald

Chubb (NYSE:CB)‘s stock had its “neutral” rating restated by equities researchers at Cantor Fitzgerald in a report issued on Wednesday, October 21st, Benzinga reports. They currently have a $333.00 price target on the financial services provider’s stock. Cantor Fitzgerald‘s target price points to a potential downside of 6.52% from the company’s previous close.

Several other research analysts have also commented on the company. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. The Goldman Sachs Group raised their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods dropped their target price on shares of Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Finally, Wells Fargo & Company dropped their price target on Chubb from $356.00 to $343.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $362.05.

Chubb Stock Down 0.0%

CB opened at $356.23 on Wednesday. The business has a 50 day moving average price of $342.29 and a two-hundred day moving average price of $332.98. Chubb has a 52 week low of $273.35 and a 52 week high of $365.91.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. The business had revenue of $16.20 billion for the quarter, compared to analysts’ expectations of $15.66 billion. During the same period last year, the company posted $7.49 earnings per share. As a group, equities analysts expect that Chubb will post 28.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Connors sold 5,500 shares of Chubb stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Chubb

Institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in shares of Chubb by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after purchasing an additional 5,225 shares during the period. Equitable Holdings Inc. purchased a new stake in shares of Chubb in the 2nd quarter valued at approximately $4,139,000. Berkshire Hathaway Inc purchased a new stake in Chubb during the 2nd quarter worth approximately $11,670,067,000. XXEC Inc. acquired a new position in Chubb during the 2nd quarter worth approximately $26,210,000. Finally, Douglas Lane & Associates LLC grew its holdings in Chubb by 2,748.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider’s stock worth $152,084,000 after acquiring an additional 451,173 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.