Royal Bank of Canada Reiterates “Outperform” Rating for Chubb (NYSE:CB)

Royal Bank of Canada reissued their outperform rating on shares of Chubb (NYSE:CB) in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $320.00 price objective on the financial services provider’s stock.

CB has been the topic of several other reports. Evercore ISI raised their target price on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley upped their target price on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on Chubb from $320.00 to $328.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus target price of $289.78.

Chubb Price Performance

Shares of CB opened at $274.76 on Thursday. The company’s 50-day moving average is $275.63 and its 200-day moving average is $279.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $110.76 billion, a PE ratio of 11.25, a PEG ratio of 7.23 and a beta of 0.67. Chubb has a fifty-two week low of $238.85 and a fifty-two week high of $302.05.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 15.46% and a net margin of 18.32%. Equities analysts forecast that Chubb will post 21.95 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a $0.91 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.32%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Institutional Investors Weigh In On Chubb

Large investors have recently made changes to their positions in the business. FMR LLC grew its position in shares of Chubb by 7.3% during the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after acquiring an additional 1,052,999 shares during the period. International Assets Investment Management LLC grew its position in shares of Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after purchasing an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Chubb by 4,559.3% during the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after buying an additional 826,700 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Chubb by 49.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after purchasing an additional 389,343 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after buying an additional 388,746 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

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.