Chubb (NYSE:CB) Earns Neutral Rating from Cantor Fitzgerald

Chubb (NYSE:CB)‘s stock had its “neutral” rating restated by Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $333.00 price target on the financial services provider’s stock. Cantor Fitzgerald‘s price target suggests a potential downside of 6.29% from the company’s current price.

Several other equities research analysts have also commented on the company. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research note on Wednesday. Morgan Stanley cut their price objective on Chubb from $360.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Piper Sandler boosted their price objective on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. cut their price objective on Chubb from $374.00 to $371.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $400.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $358.36.

Chubb Price Performance

NYSE:CB traded down $2.38 during trading hours on Wednesday, hitting $355.37. 1,124,781 shares of the stock were exchanged, compared to its average volume of 1,708,060. Chubb has a 52-week low of $272.20 and a 52-week high of $365.91. The firm’s fifty day moving average price is $340.82 and its 200 day moving average price is $336.89. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $137.10 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.56 and a beta of 0.36.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping the consensus estimate of $6.79 by $0.87. Chubb had a return on equity of 14.47% and a net margin of 18.10%. The company had revenue of $16.20 billion during the quarter, compared to analyst estimates of $15.71 billion. During the same period in the previous year, the business earned $7.49 EPS. As a group, equities research analysts anticipate that Chubb will post 27.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by company insiders.

Institutional Trading of Chubb

A number of hedge funds and other institutional investors have recently made changes to their positions in CB. IMG Wealth Management Inc. purchased a new position in shares of Chubb during the second quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $25,000. Parvin Asset Management LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $26,000. Highland Investment Advisors LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $26,000. Finally, Frazier Financial Advisors LLC boosted its holdings in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb News Roundup

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb reported third-quarter EPS of $7.66, well above the $6.79 consensus estimate, while revenue of $16.20 billion also exceeded expectations. EPS increased from $7.49 a year earlier. Chubb third-quarter earnings report
• Positive Sentiment: Core operating income reached $2.98 billion. Record investment income, higher life-insurance income, and strong underwriting results helped drive the earnings beat. Chubb Q3 earnings beat estimates
• Positive Sentiment: Overseas General property and casualty premiums grew 6.7%, indicating continued insurance demand and contributing to growth in net premiums written. Chubb was also upgraded to Zacks Rank #2 (Buy), reflecting improving earnings optimism. Chubb key takeaways for long-term investors
• Neutral Sentiment: The earnings beat was substantial, but commentary and analyst coverage suggest much of the good news may already be reflected in Chubb’s valuation following its advance toward the 52-week high. Chubb strong Q3 reflected in valuation
• Negative Sentiment: Rising catastrophe losses pressured underwriting profitability, tempering the impact of the otherwise strong quarter. Cantor Fitzgerald reaffirmed a Neutral rating and assigned a $333 price target, below the recent trading level, signaling limited near-term upside. Chubb analyst rating

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.