Wells Fargo & Company Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Chubb (NYSE:CB) had its target price upped by Wells Fargo & Company from $266.00 to $268.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on CB. Barclays started coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Roth Mkm upped their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America boosted their price target on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Price Performance

Shares of Chubb stock traded up $3.54 during trading on Tuesday, hitting $281.53. 123,763 shares of the company’s stock traded hands, compared to its average volume of 1,604,715. Chubb has a twelve month low of $216.26 and a twelve month high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $113.48 billion, a PE ratio of 11.38, a PEG ratio of 6.49 and a beta of 0.67. The firm’s fifty day moving average price is $288.26 and its 200 day moving average price is $271.47.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.95 earnings per share. Analysts forecast that Chubb will post 21.6 earnings per share for the current year.

Insider Activity

In related news, Director Michael G. Atieh sold 261 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,636 shares of company stock worth $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

A number of institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new stake in shares of Chubb during the second quarter worth $963,000. Edgestream Partners L.P. bought a new position in shares of Chubb in the first quarter valued at $984,000. Leuthold Group LLC bought a new stake in shares of Chubb during the first quarter worth about $3,033,000. Moloney Securities Asset Management LLC raised its holdings in shares of Chubb by 97.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 1,905 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock worth $3,279,000 after acquiring an additional 2,250 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

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.