Citigroup Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its price target lifted by Citigroup from $331.00 to $335.00 in a research report issued on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would suggest a potential upside of 14.86% from the company’s previous close.

Several other brokerages have also commented on CB. Cantor Fitzgerald restated a “neutral” rating and issued a $300.00 price target on shares of Chubb in a research note on Monday, October 27th. Keefe, Bruyette & Woods increased their price objective on Chubb from $333.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Jefferies Financial Group lifted their target price on Chubb from $297.00 to $302.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Morgan Stanley increased their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, HSBC lifted their price objective on shares of Chubb from $302.00 to $304.00 in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $308.32.

Chubb Price Performance

CB opened at $291.65 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $284.95 and its 200 day moving average price is $281.58. The firm has a market cap of $114.78 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58. Chubb has a fifty-two week low of $252.16 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $16.15 billion during the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.72 EPS. As a group, sell-side analysts expect that Chubb will post 21.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares in the company, valued at $18,000,968.44. The trade was a 8.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Lupica sold 16,375 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the sale, the insider directly owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 57,333 shares of company stock worth $16,629,873. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CB. Investment Research Partners LLC acquired a new stake in shares of Chubb during the 3rd quarter valued at $403,000. XXEC Inc. raised its position in shares of Chubb by 43.9% during the third quarter. XXEC Inc. now owns 9,748 shares of the financial services provider’s stock worth $2,751,000 after purchasing an additional 2,976 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Chubb during the third quarter worth $31,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Chubb by 4.1% during the third quarter. CIBC Private Wealth Group LLC now owns 209,489 shares of the financial services provider’s stock valued at $59,128,000 after purchasing an additional 8,267 shares during the last quarter. Finally, Prana Capital Management LP boosted its position in shares of Chubb by 171.9% in the 3rd quarter. Prana Capital Management LP now owns 510,010 shares of the financial services provider’s stock valued at $143,950,000 after purchasing an additional 322,448 shares during the period. Institutional investors own 83.81% of the company’s stock.

Chubb Company Profile

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.