Chubb (NYSE:CB) was upgraded by equities research analysts at Credit Suisse Group from an “underperform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage currently has a $165.00 price objective on the financial services provider’s stock, up from their prior price objective of $145.00. Credit Suisse Group’s target price would indicate a potential upside of 8.42% from the company’s previous close.
Several other analysts have also weighed in on CB. Evercore ISI started coverage on shares of Chubb in a research note on Thursday, October 17th. They issued an “in-line” rating and a $149.00 price objective for the company. JMP Securities reiterated an “outperform” rating on shares of Chubb in a research note on Thursday, July 25th. William Blair reiterated an “underperform” rating on shares of Chubb in a research note on Wednesday, October 30th. Wells Fargo & Co lifted their price objective on shares of Chubb from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, UBS Group lifted their price objective on shares of Chubb from $156.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Chubb has an average rating of “Hold” and a consensus price target of $158.73.
Chubb stock opened at $152.18 on Tuesday. The firm has a 50 day moving average price of $155.11 and a two-hundred day moving average price of $151.35. The firm has a market cap of $66.95 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.42 and a beta of 0.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. Chubb has a 52-week low of $119.54 and a 52-week high of $162.44.
Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.06. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.82 billion. Chubb had a net margin of 10.48% and a return on equity of 8.60%. Chubb’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.41 EPS. As a group, equities research analysts predict that Chubb will post 10.36 EPS for the current fiscal year.
In other Chubb news, insider John J. Lupica sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $158.15, for a total transaction of $948,900.00. Following the completion of the sale, the insider now owns 168,037 shares in the company, valued at approximately $26,575,051.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 6,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $158.05, for a total transaction of $1,027,325.00. Following the sale, the executive vice president now owns 77,201 shares of the company’s stock, valued at approximately $12,201,618.05. The disclosure for this sale can be found here. Insiders have sold a total of 32,560 shares of company stock valued at $5,063,222 in the last 90 days. 0.47% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC purchased a new position in Chubb during the 3rd quarter worth $26,000. JNBA Financial Advisors boosted its holdings in Chubb by 223.2% during the 2nd quarter. JNBA Financial Advisors now owns 181 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Mcmillion Capital Management Inc. purchased a new position in Chubb during the 2nd quarter worth $27,000. Liberty Wealth Management LLC boosted its holdings in Chubb by 176.5% during the 3rd quarter. Liberty Wealth Management LLC now owns 188 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in Chubb during the 2nd quarter worth $28,000. Institutional investors and hedge funds own 88.08% of the company’s stock.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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