Morgan Stanley Lowers Chubb (CB) Price Target to $153.00
Chubb (NYSE:CB) had its price objective decreased by Morgan Stanley from $166.00 to $153.00 in a research note published on Wednesday. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.
Several other analysts also recently issued reports on CB. Citigroup dropped their price target on Chubb from $150.00 to $145.00 and set a buy rating on the stock in a research note on Thursday, October 25th. Zacks Investment Research downgraded Chubb from a hold rating to a sell rating in a research note on Wednesday, October 24th. Wells Fargo & Co reissued a buy rating and issued a $169.00 price target on shares of Chubb in a research note on Wednesday, October 10th. ValuEngine raised Chubb from a sell rating to a hold rating in a research report on Tuesday, September 4th. Finally, Deutsche Bank downgraded Chubb from a hold rating to a sell rating and lowered their target price for the company from $135.00 to $126.00 in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $158.00.
Chubb stock traded up $3.37 during mid-day trading on Wednesday, hitting $130.09. 156,065 shares of the company’s stock were exchanged, compared to its average volume of 1,696,581. The company has a market capitalization of $58.61 billion, a PE ratio of 16.20, a PEG ratio of 1.28 and a beta of 1.02. Chubb has a fifty-two week low of $120.50 and a fifty-two week high of $157.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 21st will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.24%. Chubb’s payout ratio is currently 36.36%.
In related news, insider Timothy Alan Boroughs sold 14,971 shares of Chubb stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $139.37, for a total transaction of $2,086,508.27. Following the completion of the transaction, the insider now owns 202,794 shares in the company, valued at $28,263,399.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 227,994 shares of Chubb stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total value of $31,985,278.26. Following the transaction, the chief executive officer now owns 1,583,326 shares of the company’s stock, valued at approximately $222,124,804.54. The disclosure for this sale can be found here. Insiders have sold 242,967 shares of company stock valued at $34,072,088 in the last quarter. 0.44% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. boosted its holdings in shares of Chubb by 9.1% during the third quarter. Brown Brothers Harriman & Co. now owns 4,905 shares of the financial services provider’s stock worth $656,000 after acquiring an additional 411 shares during the period. Henry James International Management Inc. bought a new stake in shares of Chubb during the third quarter worth approximately $529,000. Mackenzie Financial Corp raised its position in shares of Chubb by 24.3% in the third quarter. Mackenzie Financial Corp now owns 5,177 shares of the financial services provider’s stock valued at $692,000 after buying an additional 1,013 shares in the last quarter. Winthrop Partners WNY LLC raised its position in shares of Chubb by 29.6% in the third quarter. Winthrop Partners WNY LLC now owns 7,530 shares of the financial services provider’s stock valued at $1,006,000 after buying an additional 1,722 shares in the last quarter. Finally, Willis Investment Counsel raised its position in shares of Chubb by 13.7% in the third quarter. Willis Investment Counsel now owns 145,013 shares of the financial services provider’s stock valued at $19,380,000 after buying an additional 17,420 shares in the last quarter. Institutional investors own 85.99% of the company’s stock.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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