Chubb (NYSE:CB) Given New $278.00 Price Target at Wells Fargo & Company

Chubb (NYSE:CB) had its price objective upped by Wells Fargo & Company from $268.00 to $278.00 in a research report sent to investors on Thursday, Marketbeat reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

CB has been the topic of a number of other research reports. UBS Group raised their price target on shares of Chubb from $298.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price objective on shares of Chubb from $329.00 to $316.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler upped their price target on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Jefferies Financial Group raised their price target on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their price objective on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.79.

Chubb Stock Performance

NYSE:CB opened at $282.10 on Thursday. The company has a market capitalization of $113.03 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 3.36 and a beta of 0.47. Chubb has a 1-year low of $242.25 and a 1-year high of $306.91. The business has a 50 day moving average of $286.14 and a 200 day moving average of $281.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, sell-side analysts predict that Chubb will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Insider Transactions at Chubb

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the sale, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This trade represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,470 shares of company stock valued at $18,562,730 in the last 90 days. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several large investors have recently made changes to their positions in CB. Barclays PLC boosted its holdings in Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after buying an additional 388,746 shares during the last quarter. Invst LLC raised its position in shares of Chubb by 6.0% in the third quarter. Invst LLC now owns 915 shares of the financial services provider’s stock valued at $264,000 after buying an additional 52 shares during the last quarter. Boyar Asset Management Inc. boosted its position in Chubb by 3.8% during the third quarter. Boyar Asset Management Inc. now owns 2,789 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 102 shares during the last quarter. World Investment Advisors LLC raised its holdings in Chubb by 895.5% in the 3rd quarter. World Investment Advisors LLC now owns 32,183 shares of the financial services provider’s stock valued at $9,281,000 after acquiring an additional 28,950 shares during the last quarter. Finally, Sfmg LLC increased its holdings in shares of Chubb by 2.4% in the third quarter. Sfmg LLC now owns 1,681 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 40 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Company Profile

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.