Wells Fargo & Company Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Chubb (NYSE:CB) had its price objective increased by Wells Fargo & Company from $268.00 to $278.00 in a research note released on Thursday, MarketBeat reports. They currently have an equal weight rating on the financial services provider’s stock.

CB has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Jefferies Financial Group upped their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Piper Sandler boosted their target price on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Barclays cut their price objective on Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, UBS Group lifted their price target on Chubb from $298.00 to $303.00 and gave the company a “neutral” rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and a consensus price target of $307.79.

Chubb Stock Performance

NYSE:CB opened at $282.10 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb has a fifty-two week low of $242.25 and a fifty-two week high of $306.91. The company has a market cap of $113.03 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 3.36 and a beta of 0.47. The stock has a fifty day moving average price of $286.14 and a 200-day moving average price of $281.13.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, equities analysts anticipate that Chubb will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s payout ratio is 16.02%.

Insider Activity at Chubb

In other Chubb news, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the sale, the executive vice president now owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is owned by corporate insiders.

Institutional Trading of Chubb

Several hedge funds have recently made changes to their positions in the company. Demars Financial Group LLC lifted its position in shares of Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares in the last quarter. Norges Bank purchased a new stake in shares of Chubb in the fourth quarter worth about $1,169,720,000. Raymond James Financial Inc. purchased a new position in Chubb during the fourth quarter valued at approximately $1,158,897,000. GAMMA Investing LLC increased its holdings in Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after acquiring an additional 2,078,390 shares during the period. Finally, Royal Bank of Canada lifted its stake in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

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.