Chubb (NYSE:CB) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Chubb (NYSE:CB) had its price target cut by Keefe, Bruyette & Woods from $389.00 to $387.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. UBS Group raised their price target on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Cantor Fitzgerald boosted their price objective on shares of Chubb from $330.00 to $333.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 7th. Piper Sandler increased their price objective on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Chubb from $374.00 to $371.00 and set a “neutral” rating for the company in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $358.36.

Chubb Stock Performance

Chubb stock opened at $350.05 on Monday. The business has a 50 day moving average of $340.26 and a 200-day moving average of $335.98. The company has a market capitalization of $135.05 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.52 and a beta of 0.36. Chubb has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the business earned $6.14 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Chubb will post 27.68 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a $1.02 dividend. The ex-dividend date was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is presently 14.43%.

Insider Buying and Selling

In other news, Director Michael P. Connors sold 5,500 shares of the business’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 value of $1,897,500.00. Following the transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Wayland sold 8,502 shares of the business’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 completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Chubb

Large investors have recently modified their holdings of the company. Dunhill Financial LLC purchased a new position in Chubb during the second quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chubb during the 2nd quarter worth approximately $25,000. Parvin Asset Management LLC bought a new stake in Chubb during the 2nd quarter worth approximately $26,000. Highland Investment Advisors LLC bought a new stake in Chubb during the 2nd quarter worth approximately $26,000. Finally, Frazier Financial Advisors LLC lifted its stake in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

About Chubb

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.