Wells Fargo & Company Cuts Chubb (NYSE:CB) Price Target to $268.00

Chubb (NYSE:CB) had its target price reduced by Wells Fargo & Company from $271.00 to $268.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

CB has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a report on Wednesday, January 29th. Barclays lowered their price objective on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Piper Sandler upped their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $307.21.

Chubb Trading Up 0.3 %

Shares of CB stock opened at $283.30 on Thursday. The firm has a market capitalization of $113.51 billion, a PE ratio of 12.47, a PEG ratio of 3.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock has a fifty day simple moving average of $283.03 and a two-hundred day simple moving average of $281.28. Chubb has a 52-week low of $238.85 and a 52-week high of $306.91.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, analysts predict that Chubb will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.28%. Chubb’s payout ratio is currently 16.02%.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the transaction, the executive vice president now directly owns 78,422 shares of the company’s stock, valued at $23,120,374.04. The trade was a 13.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the transaction, the executive vice president now owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock worth $18,562,730 over the last three months. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peoples Bank KS acquired a new stake in Chubb in the 1st quarter valued at $25,000. Continuum Advisory LLC grew its position in shares of Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 35 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Chubb during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb during the fourth quarter worth about $29,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Chubb during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

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.