JMP Securities Increases Chubb (NYSE:CB) Price Target to $325.00

Chubb (NYSE:CB) had its price objective hoisted by JMP Securities from $300.00 to $325.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.

Several other analysts also recently commented on CB. JPMorgan Chase & Co. increased their target price on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America lifted their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. 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 note on Thursday, October 10th. Evercore ISI raised their price target on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Piper Sandler boosted their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus target price of $286.63.

Chubb Price Performance

CB opened at $283.64 on Wednesday. The firm has a market cap of $115.18 billion, a PE ratio of 12.59, a P/E/G ratio of 5.87 and a beta of 0.66. The stock has a 50-day moving average price of $288.01 and a 200-day moving average price of $270.32. Chubb has a 1 year low of $212.82 and a 1 year high of $302.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.93 by $0.79. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the previous year, the company earned $4.95 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Chubb will post 21.32 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s payout ratio is 16.16%.

Insiders Place Their Bets

In other news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. This represents 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 valued at $24,874,208 over the last 90 days. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CB. Beacon Capital Management LLC increased its position in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Chubb in the 1st quarter valued at approximately $25,000. Kozak & Associates Inc. acquired a new stake in Chubb in the 3rd quarter worth approximately $29,000. Chilton Capital Management LLC purchased a new stake in Chubb during the 2nd quarter worth approximately $26,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Chubb during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

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.