Barclays Cuts Chubb (NYSE:CB) Price Target to $321.00

Chubb (NYSE:CB) had its target price dropped by equities researchers at Barclays from $324.00 to $321.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 13.31% from the company’s previous close.

CB has been the subject of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research report on Wednesday, January 29th. UBS Group lifted their price objective on shares of Chubb from $298.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday. Piper Sandler lifted their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $307.21.

Chubb Price Performance

Shares of NYSE:CB opened at $283.30 on Friday. Chubb has a 1-year low of $238.85 and a 1-year high of $306.91. The firm has a market capitalization of $113.51 billion, a PE ratio of 12.47, a PEG ratio of 3.36 and a beta of 0.47. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $283.03 and its 200-day moving average is $281.28.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Sell-side analysts predict that Chubb will post 21.52 earnings per share for the current year.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the sale, the executive vice president now directly owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the transaction, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. The trade was a 33.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,470 shares of company stock worth $18,562,730. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Demars Financial Group LLC lifted its holdings in Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock worth $1,481,094,000 after buying an additional 5,340,499 shares during the period. Norges Bank bought a new stake in shares of Chubb in the 4th quarter valued at $1,169,720,000. Raymond James Financial Inc. bought a new position in shares of Chubb during the 4th quarter worth about $1,158,897,000. GAMMA Investing LLC grew its stake in Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock valued at $629,357,000 after acquiring an additional 2,078,390 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Chubb by 46.7% in the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock valued at $1,217,392,000 after buying an additional 1,403,545 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Company Profile

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.