Brokerages Set Chubb Limited (NYSE:CB) PT at $274.70

04 Oct 2024, 22:35 by Mitch Edgeman · The Markets Daily

Chubb Limited (NYSE:CB – Get Free Report) has received a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $275.00.

A number of equities research analysts have issued reports on CB shares. JMP Securities increased their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Bank of America boosted their price target on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lifted their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 29th.

Check Out Our Latest Stock Analysis on Chubb

Chubb Stock Down 1.0 %

Shares of CB stock opened at $288.54 on Friday. The company has a market capitalization of $117.16 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 5.74 and a beta of 0.66. 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 company’s fifty day moving average price is $280.84 and its 200-day moving average price is $265.54. Chubb has a one year low of $204.15 and a one year high of $294.18.

Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the business earned $4.92 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts expect that Chubb will post 21.21 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s dividend payout ratio is presently 16.16%.

Insider Activity at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Chubb

Several hedge funds have recently modified their holdings of CB. Capital Research Global Investors boosted its position in Chubb by 44.4% during the first 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 in the last quarter. Capital World Investors boosted its holdings in shares of Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Chubb in the 1st quarter worth approximately $165,932,000. Bank of Nova Scotia raised its stake in shares of Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after acquiring an additional 518,535 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position 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 valued at $918,294,000 after acquiring an additional 457,881 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Company Profile

(Get Free Report