Royal Bank of Canada Lowers Chubb (NYSE:CB) Price Target to $285.00

Chubb (NYSE:CB) had its price target reduced by Royal Bank of Canada from $295.00 to $285.00 in a research report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on CB. BMO Capital Markets upped their price target on Chubb from $220.00 to $240.00 and gave the company a market perform rating in a research note on Monday, February 5th. JMP Securities restated a market outperform rating and issued a $280.00 price target on shares of Chubb in a research note on Monday, April 15th. The Goldman Sachs Group upped their price objective on Chubb from $228.00 to $254.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Wells Fargo & Company raised their target price on Chubb from $234.00 to $255.00 and gave the stock an equal weight rating in a research note on Thursday, February 1st. Finally, HSBC restated a hold rating and issued a $270.00 target price (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Chubb has a consensus rating of Moderate Buy and an average price target of $266.89.

Chubb Stock Performance

Shares of CB traded down $1.67 during midday trading on Thursday, hitting $244.29. 68,583 shares of the stock traded hands, compared to its average volume of 1,730,365. Chubb has a 1-year low of $183.71 and a 1-year high of $260.58. The firm has a market capitalization of $99.18 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.35. The business’s 50 day moving average price is $252.44 and its two-hundred day moving average price is $235.28.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the business posted $4.41 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that Chubb will post 21.32 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.41%. Chubb’s payout ratio is 15.27%.

Insider Transactions at Chubb

In related news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 33,150 shares of Chubb stock in a transaction on Monday, February 26th. The stock was sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the sale, the executive vice president now owns 50,486 shares in the company, valued at $12,879,483.46. The disclosure for this sale can be found here. Insiders sold 116,043 shares of company stock worth $29,766,694 in the last 90 days. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Institutional investors have recently modified their holdings of the company. Americana Partners LLC purchased a new position in shares of Chubb in the third quarter valued at $292,000. Lazard Asset Management LLC boosted its position in shares of Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after purchasing an additional 495,860 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its position in shares of Chubb by 155.8% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock valued at $120,235,000 after purchasing an additional 324,019 shares in the last quarter. Graypoint LLC boosted its holdings in shares of Chubb by 1,275.7% in the fourth quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after buying an additional 29,302 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in shares of Chubb in the fourth quarter worth about $1,403,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.