Bank of America Downgrades Chubb (NYSE:CB) to Underperform

Bank of America downgraded shares of Chubb (NYSE:CB) from a neutral rating to an underperform rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have $275.00 price objective on the financial services provider’s stock, up from their previous price objective of $264.00.

Several other equities research analysts have also commented on the company. Royal Bank of Canada upped their price objective on Chubb from $285.00 to $295.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Barclays began coverage on Chubb in a research note on Wednesday, September 4th. They set an overweight rating and a $349.00 price objective for the company. Roth Mkm lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the company a buy rating in a report on Wednesday, July 24th. Morgan Stanley dropped their price target on shares of Chubb from $260.00 to $259.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Chubb from $304.00 to $305.00 and gave the stock an outperform rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $280.22.

Chubb Stock Down 4.6 %

CB opened at $277.18 on Friday. The stock has a market capitalization of $112.55 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 5.74 and a beta of 0.66. The firm has a 50 day moving average price of $281.24 and a 200-day moving average price of $265.87. Chubb has a twelve month low of $205.64 and a twelve month high of $294.18. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the company posted $4.92 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts forecast that Chubb will post 21.21 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.31%. Chubb’s dividend payout ratio (DPR) is 16.16%.

Insider Activity

In related news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chubb news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock worth $24,874,208 over the last 90 days. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chubb

A number of large investors have recently made changes to their positions in the business. Bard Financial Services Inc. grew its position in Chubb by 3.7% in the first quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 40 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Chubb by 0.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 40 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its holdings in Chubb by 1.9% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 40 shares during the last quarter. Quotient Wealth Partners LLC boosted its position in Chubb by 4.1% during the second quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 41 shares during the period. Finally, Drive Wealth Management LLC grew its holdings in Chubb by 3.6% during the second quarter. Drive Wealth Management LLC now owns 1,183 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds 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.