Royal Bank of Canada Trims Chubb (NYSE:CB) Target Price to $285.00

Chubb (NYSE:CB) had its price target lowered by Royal Bank of Canada from $295.00 to $285.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on CB. StockNews.com downgraded shares of Chubb from a buy rating to a hold rating in a research note on Wednesday. HSBC reissued a hold rating and issued a $270.00 price target (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. BMO Capital Markets raised their price target on shares of Chubb from $220.00 to $240.00 and gave the stock a market perform rating in a research note on Monday, February 5th. TD Cowen began coverage on shares of Chubb in a research note on Wednesday, January 10th. They set a market perform rating and a $254.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of Chubb from $258.00 to $260.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $266.89.

Chubb Stock Down 0.2 %

NYSE:CB opened at $245.45 on Thursday. The firm has a market capitalization of $99.65 billion, a P/E ratio of 10.89, a PEG ratio of 1.16 and a beta of 0.62. Chubb has a 1-year low of $183.71 and a 1-year high of $260.58. The company’s fifty day moving average price is $252.33 and its 200-day moving average price is $235.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.29.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter last year, the business earned $4.41 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chubb will post 21.23 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.40%. The ex-dividend date was Thursday, March 14th. Chubb’s payout ratio is currently 15.27%.

Insider Buying and Selling at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the completion of the sale, the executive vice president now directly owns 35,662 shares in the company, valued at $9,228,612.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,043 shares of company stock valued at $29,766,694. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CB. Deutsche Bank AG grew its position in shares of Chubb by 426.8% in the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after buying an additional 13,059,385 shares during the last quarter. Norges Bank purchased a new position in shares of Chubb in the 4th quarter valued at $957,756,000. Confluence Investment Management LLC purchased a new position in shares of Chubb in the 1st quarter valued at $165,932,000. Bank of Nova Scotia grew its position in shares of Chubb by 198.8% in the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after buying an additional 518,535 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after buying an additional 495,860 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

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.