Chubb (NYSE:CB) Price Target Raised to $308.00

Chubb (NYSE:CB) had its price objective boosted by Jefferies Financial Group from $307.00 to $308.00 in a report issued on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the company. Keefe, Bruyette & Woods reduced their target price on Chubb from $329.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a research report on Wednesday, March 5th. Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Wells Fargo & Company dropped their target price on shares of Chubb from $271.00 to $268.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Chubb from $300.00 to $307.00 and gave the stock 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $307.21.

Chubb Trading Up 0.3 %

CB opened at $283.30 on Friday. Chubb has a 12-month low of $238.85 and a 12-month high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The stock has a market capitalization of $113.51 billion, a PE ratio of 12.47, a P/E/G ratio of 3.36 and a beta of 0.47. The firm’s fifty day moving average price is $283.03 and its 200 day moving average price is $281.22.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, research analysts expect that Chubb will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a dividend of $0.91 per share. The ex-dividend date was Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.28%. Chubb’s dividend payout ratio (DPR) is presently 16.02%.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. This represents a 4.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO George F. Ohsiek sold 763 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,470 shares of company stock worth $18,562,730. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Chubb by 57.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 356,602 shares of the financial services provider’s stock valued at $102,840,000 after purchasing an additional 130,629 shares during the period. Czech National Bank boosted its stake in Chubb by 6.2% during the fourth quarter. Czech National Bank now owns 81,282 shares of the financial services provider’s stock valued at $22,458,000 after buying an additional 4,757 shares in the last quarter. Barclays PLC grew its holdings in Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after acquiring an additional 388,746 shares during the period. California Public Employees Retirement System raised its position in Chubb by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after acquiring an additional 14,610 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Chubb by 133.9% in the fourth quarter. Versant Capital Management Inc now owns 552 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 316 shares in the last quarter. 83.81% of the stock is currently 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.