Chubb (NYSE:CB) Lifted to “Neutral” at Bank of America

Bank of America upgraded shares of Chubb (NYSE:CBFree Report) from an underperform rating to a neutral rating in a research report report published on Thursday morning, MarketBeat.com reports. Bank of America currently has $266.00 price objective on the financial services provider’s stock, up from their prior price objective of $244.00.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Chubb from a buy rating to a hold rating in a research note on Wednesday, April 24th. Piper Sandler reissued an overweight rating and issued a $282.00 price objective on shares of Chubb in a report on Monday, April 1st. Raymond James lifted their target price on Chubb from $270.00 to $285.00 and gave the stock a strong-buy rating in a research report on Thursday, February 1st. UBS Group upped their price target on Chubb from $245.00 to $256.00 and gave the company a neutral rating in a research report on Monday, February 5th. Finally, Morgan Stanley lifted their price objective on shares of Chubb from $258.00 to $260.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Eleven research 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 data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $266.70.

Check Out Our Latest Analysis on Chubb

Chubb Price Performance

CB stock opened at $264.76 on Thursday. The stock has a 50-day moving average price of $253.77 and a two-hundred day moving average price of $241.73. The company has a market cap of $107.51 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 9.33 and a beta of 0.63. 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 has a 12-month low of $183.71 and a 12-month high of $275.41.

Chubb (NYSE:CBGet Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the business earned $4.41 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts predict that Chubb will post 21.21 EPS for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.91 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, June 14th. Chubb’s dividend payout ratio is currently 15.27%.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the completion of the sale, the insider now owns 130,937 shares in the company, valued at $33,902,208.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the sale, the insider now directly owns 130,937 shares in the company, valued at approximately $33,902,208.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Atieh sold 716 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the sale, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The disclosure for this sale can be found here. Insiders have sold 145,815 shares of company stock worth $37,349,247 over the last quarter. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chubb

Hedge funds have recently modified their holdings of the stock. ZRC Wealth Management LLC acquired a new stake in Chubb during the 4th quarter worth about $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chubb during the fourth quarter valued at approximately $29,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Chubb in the 1st quarter valued at approximately $29,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Chubb in the 4th quarter valued at approximately $32,000. Finally, Northwest Financial Advisors acquired a new position in Chubb in the 4th quarter worth approximately $33,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

About Chubb

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Chubb (NYSE:CB)

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