Chubb (CB) Price Target Cut to $150.00 by Analysts at Citigroup

Chubb (NYSE:CB) had its target price cut by Citigroup from $157.00 to $150.00 in a research report released on Friday morning. They currently have a buy rating on the financial services provider’s stock.

A number of other brokerages also recently commented on CB. Barclays decreased their target price on Chubb from $175.00 to $170.00 and set an overweight rating for the company in a report on Monday, July 9th. Credit Suisse Group initiated coverage on Chubb in a report on Tuesday, August 7th. They set a neutral rating and a $150.00 target price for the company. Wells Fargo & Co restated a buy rating and set a $169.00 target price on shares of Chubb in a report on Tuesday, July 24th. Zacks Investment Research downgraded Chubb from a hold rating to a sell rating in a report on Tuesday, September 25th. Finally, Atlantic Securities upgraded Chubb from an underweight rating to a neutral rating in a report on Wednesday, June 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $159.45.

CB stock traded down $0.57 during midday trading on Friday, hitting $126.25. The company had a trading volume of 2,692,847 shares, compared to its average volume of 1,652,850. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. Chubb has a 52 week low of $123.23 and a 52 week high of $157.50. The company has a market capitalization of $61.91 billion, a P/E ratio of 15.72, a PEG ratio of 1.28 and a beta of 1.01.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.06. Chubb had a return on equity of 7.41% and a net margin of 11.53%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.30 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Chubb will post 10.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 21st were issued a dividend of $0.73 per share. The ex-dividend date was Thursday, September 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.31%. Chubb’s dividend payout ratio is presently 36.36%.

In related news, CEO Evan G. Greenberg sold 227,994 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total value of $31,985,278.26. Following the sale, the chief executive officer now directly owns 1,583,326 shares of the company’s stock, valued at $222,124,804.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Timothy Alan Boroughs sold 14,971 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $139.37, for a total value of $2,086,508.27. Following the completion of the sale, the insider now directly owns 202,794 shares in the company, valued at $28,263,399.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,093 shares of company stock worth $34,089,733. 0.44% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. ELM Advisors LLC purchased a new stake in Chubb in the third quarter worth $103,000. Atlantic Trust LLC purchased a new stake in shares of Chubb in the second quarter worth $102,000. Clarus Wealth Advisors purchased a new stake in shares of Chubb in the second quarter worth $113,000. FNY Investment Advisers LLC purchased a new stake in shares of Chubb in the second quarter worth $127,000. Finally, Edge Wealth Management LLC purchased a new stake in shares of Chubb in the second quarter worth $133,000. 85.75% of the stock is currently owned by institutional investors.

About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Analyst Recommendations for Chubb (NYSE:CB)

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