Chubb (CB) Price Target Raised to $167.00

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Chubb (NYSE:CB) had its price objective hoisted by Barclays from $160.00 to $167.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also weighed in on CB. Zacks Investment Research raised shares of Chubb from a sell rating to a hold rating in a report on Tuesday, May 14th. Morgan Stanley lowered shares of Chubb from an overweight rating to an equal weight rating in a report on Wednesday, April 17th. Sandler O’Neill lowered shares of Chubb from a buy rating to a hold rating in a report on Wednesday, April 3rd. Raymond James decreased their price objective on shares of Chubb from $160.00 to $150.00 and set an outperform rating for the company in a report on Monday, February 11th. Finally, Wells Fargo & Co reissued a buy rating and set a $157.00 price objective on shares of Chubb in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Chubb presently has an average rating of Hold and an average target price of $151.00.

Shares of CB stock opened at $148.17 on Wednesday. The firm has a market cap of $67.84 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.39 and a beta of 0.82. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. Chubb has a 1-year low of $119.54 and a 1-year high of $148.39.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.05. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.55 billion. Chubb had a net margin of 11.55% and a return on equity of 8.76%. During the same period last year, the business earned $2.34 EPS. Equities analysts forecast that Chubb will post 10.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 21st will be given a $0.75 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, June 20th. Chubb’s dividend payout ratio (DPR) is presently 30.93%.

In other news, Director Michael G. Atieh sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $141.87, for a total value of $283,740.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul J. Krump sold 3,450 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $145.00, for a total transaction of $500,250.00. Following the completion of the transaction, the insider now owns 139,160 shares in the company, valued at $20,178,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,329 shares of company stock worth $3,196,761. Insiders own 0.47% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Princeton Global Asset Management LLC lifted its position in Chubb by 1.8% in the 1st quarter. Princeton Global Asset Management LLC now owns 15,869 shares of the financial services provider’s stock valued at $2,223,000 after purchasing an additional 288 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Chubb by 37.8% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,910 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 799 shares during the last quarter. Lowe Brockenbrough & Co. Inc. lifted its position in Chubb by 2.0% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 30,523 shares of the financial services provider’s stock valued at $4,276,000 after purchasing an additional 587 shares during the last quarter. Allstate Corp lifted its position in Chubb by 0.9% in the 1st quarter. Allstate Corp now owns 36,648 shares of the financial services provider’s stock valued at $5,134,000 after purchasing an additional 334 shares during the last quarter. Finally, M Holdings Securities Inc. bought a new stake in Chubb in the 1st quarter valued at about $205,000. Institutional investors own 88.50% of the company’s stock.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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