Chubb (NYSE:CB) Given New $293.00 Price Target at Evercore ISI

Chubb (NYSE:CB) had its target price increased by Evercore ISI from $289.00 to $293.00 in a report issued on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Jefferies Financial Group raised their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America increased their price target on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, Piper Sandler boosted their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $286.63.

Chubb Stock Down 1.2 %

Chubb stock opened at $283.64 on Wednesday. Chubb has a fifty-two week low of $212.82 and a fifty-two week high of $302.05. The firm has a market capitalization of $115.18 billion, a PE ratio of 12.59, a P/E/G ratio of 5.87 and a beta of 0.66. The company’s 50-day moving average is $288.01 and its 200-day moving average is $270.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.93 by $0.79. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter in the previous year, the business earned $4.95 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Chubb will post 21.32 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. Chubb’s dividend payout ratio is currently 16.16%.

Insider Buying and Selling at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Juan Luis Ortega sold 3,921 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chubb

A number of hedge funds and other institutional investors have recently made changes to their positions in CB. Capital Research Global Investors increased its position in Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. International Assets Investment Management LLC lifted its position in shares of Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after purchasing an additional 931,841 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares during the last quarter. Capital World Investors increased its position in shares of Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares during the period. Finally, Lazard Asset Management LLC raised its stake in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after buying an additional 457,881 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

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.