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

Chubb (NYSE:CB) had its price objective raised by Evercore ISI from $289.00 to $293.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Roth Mkm boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler upped their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Jefferies Financial Group upped their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upped their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company upped their target price on shares of Chubb from $255.00 to $269.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $287.26.

Chubb Stock Performance

CB stock opened at $277.41 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.31. The company has a 50 day moving average price of $288.23 and a 200 day moving average price of $270.64. Chubb has a fifty-two week low of $215.54 and a fifty-two week high of $302.05. The stock has a market capitalization of $112.11 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same quarter in the previous year, the company posted $4.95 EPS. Chubb’s revenue was up 5.5% on a year-over-year basis. Analysts forecast that Chubb will post 21.42 EPS for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s payout ratio is presently 14.91%.

Insider Buying and Selling

In related news, EVP Juan Luis Ortega sold 3,921 shares of the company’s 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 transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John J. Lupica sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the transaction, the insider now directly owns 103,950 shares in the company, valued at $29,676,685.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,636 shares of company stock valued at $24,874,208. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

A number of large investors have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. boosted its stake in shares of Chubb by 24.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 2,842 shares of the financial services provider’s stock worth $819,000 after buying an additional 550 shares during the last quarter. XML Financial LLC acquired a new position in shares of Chubb during the 3rd quarter worth about $205,000. Atria Investments Inc raised its holdings in shares of Chubb by 5.4% in the 3rd quarter. Atria Investments Inc now owns 47,724 shares of the financial services provider’s stock valued at $13,763,000 after purchasing an additional 2,457 shares during the period. Field & Main Bank raised its holdings in shares of Chubb by 1.3% in the 3rd quarter. Field & Main Bank now owns 5,123 shares of the financial services provider’s stock valued at $1,477,000 after purchasing an additional 68 shares during the period. Finally, Demars Financial Group LLC raised its holdings in shares of Chubb by 1.9% in the 3rd quarter. Demars Financial Group LLC now owns 19,956 shares of the financial services provider’s stock valued at $5,755,000 after purchasing an additional 369 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.