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

Chubb (NYSE:CB) had its target price dropped by stock analysts at Royal Bank of Canada from $295.00 to $285.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 16.15% from the company’s current price.

CB has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. HSBC reissued a “hold” rating and issued a $270.00 price objective (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. 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. JPMorgan Chase & Co. raised their price target on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Citigroup restated a “neutral” rating and set a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $266.89.

Chubb Trading Down 0.2 %

CB opened at $245.38 on Thursday. The company has a current ratio of 0.35, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The firm has a market cap of $99.62 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.14 and a beta of 0.62. Chubb has a 12 month low of $183.71 and a 12 month high of $260.58. The stock has a fifty day moving average price of $252.33 and a 200-day moving average price of $235.52.

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

Insider Buying and Selling

In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the transaction, the executive vice president now directly owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Timothy Alan Boroughs sold 14,303 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the sale, the executive vice president now directly owns 35,662 shares in the company, valued at approximately $9,228,612.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The disclosure for this sale can be found here. Insiders have sold a total of 116,043 shares of company stock valued at $29,766,694 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chubb in the fourth quarter worth approximately $29,000. ZRC Wealth Management LLC purchased a new position in Chubb in the fourth quarter worth approximately $29,000. EdgeRock Capital LLC acquired a new stake in Chubb during the fourth quarter worth $35,000. Tennessee Valley Asset Management Partners purchased a new stake in Chubb in the fourth quarter valued at $32,000. Finally, Northwest Financial Advisors acquired a new position in shares of Chubb in the 4th quarter valued at $33,000. 83.81% of the stock is owned by hedge funds and other 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.