Chubb (NYSE:CB) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Chubb (NYSE:CB) in a research note issued to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $285.00 price target on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. Piper Sandler reissued an overweight rating and issued a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. Evercore ISI upped their target price on Chubb from $270.00 to $281.00 and gave the company an outperform rating in a research report on Thursday, April 11th. William Blair downgraded shares of Chubb from a market perform rating to an underperform rating in a research note on Friday. Keefe, Bruyette & Woods lowered their price objective on Chubb from $297.00 to $294.00 and set an outperform rating on the stock in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group raised their target price on shares of Chubb from $228.00 to $254.00 and gave the company a neutral rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, eleven have assigned 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 presently has a consensus rating of Hold and an average price target of $266.70.

Chubb Price Performance

Shares of CB opened at $255.08 on Friday. The stock has a 50 day simple moving average of $259.30 and a 200 day simple moving average of $248.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. Chubb has a 52-week low of $183.71 and a 52-week high of $275.41. The firm has a market capitalization of $103.58 billion, a PE ratio of 11.32, a P/E/G ratio of 6.12 and a beta of 0.66.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.41 earnings per share. Sell-side analysts predict that Chubb will post 21.03 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, June 14th. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is 16.16%.

Insider Transactions at Chubb

In other news, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the completion of the sale, the chief accounting officer now directly owns 7,718 shares in the company, valued at $2,036,085.58. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the transaction, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Annmarie T. Hagan sold 1,529 shares of Chubb stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock worth $12,149,985 over the last ninety days. 0.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

A number of large investors have recently bought and sold shares of the stock. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb in the 1st quarter valued at about $25,000. ZRC Wealth Management LLC acquired a new stake in Chubb in the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Chubb in the fourth quarter valued at approximately $29,000. Wellington Shields Capital Management LLC acquired a new position in shares of Chubb during the first quarter worth approximately $29,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Chubb during the fourth quarter worth approximately $32,000. 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.