Bank of America Lowers Chubb (NYSE:CB) to Underperform

Bank of America downgraded shares of Chubb (NYSE:CB) from a neutral rating to an underperform rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have $275.00 price objective on the financial services provider’s stock, up from their previous price objective of $264.00.

A number of other research firms have also recently weighed in on CB. Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They issued an overweight rating and a $349.00 price target on the stock. William Blair downgraded Chubb from a market perform rating to an underperform rating in a report on Friday, June 28th. Royal Bank of Canada boosted their price objective on Chubb from $285.00 to $295.00 and gave the company an outperform rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $304.00 to $305.00 and gave the stock an outperform rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $266.00 to $286.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $280.22.

Chubb Stock Up 0.7 %

CB opened at $290.59 on Friday. Chubb has a fifty-two week low of $205.64 and a fifty-two week high of $294.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s fifty day moving average price is $281.24 and its two-hundred day moving average price is $265.87. The company has a market capitalization of $118.00 billion, a P/E ratio of 12.90, a P/E/G ratio of 5.74 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.92 EPS. On average, analysts anticipate that Chubb will post 21.21 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is 16.16%.

Insider Activity

In other Chubb news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the sale, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Chubb news, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is currently owned by company insiders.

Institutional Trading of Chubb

Large investors have recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its stake in Chubb by 0.4% in the fourth quarter. 1832 Asset Management L.P. now owns 14,123 shares of the financial services provider’s stock valued at $3,192,000 after buying an additional 61 shares during the last quarter. Stephens Inc. AR raised its holdings in Chubb by 9.1% during the 4th quarter. Stephens Inc. AR now owns 8,691 shares of the financial services provider’s stock worth $1,964,000 after buying an additional 723 shares during the period. Morningstar Investment Services LLC purchased a new position in Chubb during the 4th quarter valued at about $948,000. Kolinsky Wealth Management LLC purchased a new position in Chubb during the 4th quarter valued at about $213,000. Finally, Security National Bank purchased a new position in Chubb during the 4th quarter valued at about $1,581,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.