Argus Begins Coverage on Chubb (CB)

Argus initiated coverage on shares of Chubb (NYSE:CB) in a research report sent to investors on Friday, Marketbeat.com reports. The firm issued a hold rating on the financial services provider’s stock.

Several other research firms also recently weighed in on CB. Bank of America upped their price objective on shares of Chubb from $168.00 to $171.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Royal Bank of Canada restated a buy rating and set a $170.00 price objective on shares of Chubb in a report on Wednesday, January 31st. Wells Fargo restated a buy rating and set a $169.00 price objective on shares of Chubb in a report on Tuesday, January 30th. Credit Suisse Group restated a neutral rating and set a $156.00 price objective on shares of Chubb in a report on Tuesday, December 19th. Finally, Barclays upped their price objective on shares of Chubb from $169.00 to $175.00 and gave the stock an overweight rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Chubb currently has an average rating of Buy and an average target price of $162.92.

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Chubb stock opened at $134.13 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.30. Chubb has a 12-month low of $131.14 and a 12-month high of $157.50. The firm has a market cap of $62,248.53, a P/E ratio of 16.70, a P/E/G ratio of 1.31 and a beta of 1.01.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.86. Chubb had a net margin of 11.87% and a return on equity of 7.52%. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the company posted $2.72 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. equities research analysts expect that Chubb will post 10.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Thursday, March 29th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 annualized dividend and a dividend yield of 2.12%. Chubb’s dividend payout ratio is currently 35.37%.

Chubb announced that its Board of Directors has approved a stock buyback plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In related news, insider Philip V. Bancroft sold 55,675 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $140.94, for a total transaction of $7,846,834.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Juan C. Andrade sold 9,373 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total transaction of $1,369,020.38. Following the transaction, the insider now owns 110,195 shares of the company’s stock, valued at approximately $16,095,081.70. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Gravity Companies Inc. bought a new position in Chubb during the fourth quarter valued at about $103,000. Welch Group LLC bought a new position in Chubb during the fourth quarter valued at about $110,000. Focused Wealth Management Inc bought a new position in Chubb during the fourth quarter valued at about $117,000. Covenant Multifamily Offices LLC bought a new position in Chubb during the fourth quarter valued at about $135,000. Finally, Zions Bancorporation grew its position in Chubb by 716.3% during the third quarter. Zions Bancorporation now owns 1,151 shares of the financial services provider’s stock valued at $164,000 after buying an additional 1,010 shares during the period. Institutional investors own 89.20% of the company’s stock.

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Chubb Company Profile

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

Analyst Recommendations for Chubb (NYSE:CB)

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