Chubb (NYSE:CB) Rating Lowered to Underperform at William Blair

Chubb (NYSE:CB) was downgraded by analysts at William Blair from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports. William Blair also issued estimates for Chubb’s FY2024 earnings at $20.24 EPS.

Several other analysts also recently weighed in on CB. Morgan Stanley lifted their target price on shares of Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Evercore ISI increased their target price on Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $244.00 to $266.00 in a research note on Thursday, May 23rd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $280.00 price objective on shares of Chubb in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has a consensus rating of “Hold” and an average price target of $266.70.

Chubb Stock Down 2.7 %

Chubb stock opened at $255.08 on Friday. The stock has a 50 day moving average of $259.30 and a two-hundred day moving average of $248.63. Chubb has a twelve month low of $183.71 and a twelve month high of $275.41. The stock has a market capitalization of $103.58 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 6.29 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the prior year, the business earned $4.41 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, research analysts expect that Chubb will post 21.15 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total value of $403,365.49. Following the sale, the chief accounting officer now directly owns 7,718 shares in the company, valued at $2,036,085.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the transaction, the chief accounting officer now owns 7,718 shares of the company’s stock, valued at $2,036,085.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the sale, the chief operating officer now owns 284,136 shares in the company, valued at approximately $71,596,589.28. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock worth $12,149,985 in the last ninety days. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new stake in Chubb in the 1st quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Chubb in the first quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in Chubb during the fourth quarter worth approximately $29,000. Eagle Bay Advisors LLC raised its stake in Chubb by 82.2% during the first quarter. Eagle Bay Advisors LLC now owns 133 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 60 shares during the period. Finally, ZRC Wealth Management LLC acquired a new position in shares of Chubb in the 4th quarter valued at $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.