Chubb (NYSE:CB) Price Target Raised to $300.00 at Morgan Stanley

Chubb (NYSE:CB) had its price target boosted by Morgan Stanley from $295.00 to $300.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also weighed in on CB. Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price objective on Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Roth Mkm boosted 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. Finally, Piper Sandler raised their target price on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $286.63.

Chubb Stock Down 1.2 %

Shares of NYSE CB opened at $283.64 on Wednesday. The stock’s 50-day simple moving average is $288.01 and its 200-day simple moving average is $270.32. Chubb has a 1 year low of $212.82 and a 1 year high of $302.05. The firm has a market cap of $115.18 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 5.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.93 by $0.79. The business had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $4.95 EPS. As a group, equities analysts anticipate that Chubb will post 21.32 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. 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 16.16%.

Insider Buying and Selling at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of Chubb

Large investors have recently modified their holdings of the business. ORG Partners LLC bought a new stake in shares of Chubb in the 2nd quarter worth approximately $963,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Chubb by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after acquiring an additional 10,745 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Chubb during the 1st quarter valued at about $984,000. Leuthold Group LLC bought a new position in Chubb during the 1st quarter worth approximately $3,033,000. Finally, Private Advisor Group LLC increased its stake in 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 purchasing an additional 2,250 shares during the period. Institutional investors 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.