Chubb (NYSE:CB) Downgraded by Bank of America to Underperform

Chubb (NYSE:CB) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, Briefing.com reports. They currently have a $275.00 target price on the financial services provider’s stock, up from their prior target price of $264.00. Bank of America‘s price objective points to a potential downside of 4.69% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Barclays started coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Royal Bank of Canada increased their price target on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Roth Mkm increased their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $275.25.

Chubb Stock Down 1.0 %

CB stock opened at $288.54 on Friday. Chubb has a one year low of $204.15 and a one year high of $294.18. The stock has a market capitalization of $117.16 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The company has a fifty day moving average of $280.84 and a 200-day moving average of $265.54.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter last year, the business earned $4.92 EPS. The business’s revenue was up 11.8% on a year-over-year basis. As a group, analysts expect that Chubb will post 21.21 EPS for the current year.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock worth $24,874,208 over the last ninety days. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chubb

Several hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its position in shares of Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc lifted its position in Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after buying an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares in the last quarter. 83.81% of the stock is 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.