JPMorgan Chase & Co. Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Chubb (NYSE:CB) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $330.00 to $340.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 2.77% from the stock’s previous close.

CB has been the subject of several other research reports. Raymond James Financial boosted their price objective on shares of Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a research note on Monday, February 9th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $350.00 price objective on shares of Chubb in a report on Wednesday, February 4th. Mizuho lowered their price target on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Bank of America reduced their price objective on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Finally, Citigroup increased their target price on shares of Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $346.33.

Chubb Price Performance

NYSE CB traded up $0.02 on Monday, reaching $330.85. The company had a trading volume of 613,126 shares, compared to its average volume of 1,698,757. Chubb has a 12 month low of $264.10 and a 12 month high of $345.67. The stock has a market capitalization of $129.11 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.76 and a beta of 0.49. The firm’s 50 day moving average price is $329.06 and its 200 day moving average price is $308.60. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company posted $6.02 EPS. As a group, equities analysts predict that Chubb will post 21.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the sale, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 44,877 shares of company stock valued at $14,885,226. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management boosted its holdings in Chubb by 490.5% in the fourth quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider’s stock worth $2,689,000 after purchasing an additional 7,156 shares during the period. Chesley Taft & Associates LLC raised its position in Chubb by 7.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider’s stock worth $31,970,000 after acquiring an additional 7,043 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in Chubb by 42.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider’s stock worth $4,446,000 after purchasing an additional 4,233 shares in the last quarter. Westbourne Investment Advisors Inc. increased its stake in Chubb by 12.3% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after purchasing an additional 2,427 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in Chubb during the 3rd quarter valued at about $3,123,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.