Chubb (NYSE:CB) Price Target Cut to $259.00 by Analysts at Bank of America

Chubb (NYSE:CB) had its target price dropped by Bank of America from $279.00 to $259.00 in a research report issued on Friday,MarketScreener reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential downside of 13.84% from the company’s current price.

A number of other equities analysts also recently commented on CB. Jefferies Financial Group increased their price objective on shares of Chubb from $302.00 to $326.00 and gave the stock a “hold” rating in a research note on Tuesday, December 16th. Wells Fargo & Company upped their price objective on Chubb from $293.00 to $305.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group upgraded Chubb from a “neutral” rating to a “buy” rating and increased their price target for the stock from $309.00 to $351.00 in a research report on Wednesday, January 7th. Wolfe Research increased their target price on shares of Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Finally, Cantor Fitzgerald lifted their price target on Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $323.81.

Chubb Stock Down 0.2%

NYSE:CB opened at $300.60 on Friday. The stock has a market capitalization of $118.30 billion, a P/E ratio of 12.55, a P/E/G ratio of 3.15 and a beta of 0.51. The company’s 50-day simple moving average is $303.22 and its 200-day simple moving average is $285.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. Chubb has a fifty-two week low of $263.14 and a fifty-two week high of $316.94.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. The business had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $5.72 EPS. On average, equities analysts anticipate that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the sale, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 10,580 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $296.17, for a total transaction of $3,133,478.60. Following the transaction, the executive vice president owned 12,660 shares in the company, valued at $3,749,512.20. This represents a 45.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,333 shares of company stock valued at $16,629,873 in the last three months. 0.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chubb

Several institutional investors and hedge funds have recently made changes to their positions in CB. Perigon Wealth Management LLC raised its stake in shares of Chubb by 10.1% during the fourth quarter. Perigon Wealth Management LLC now owns 12,997 shares of the financial services provider’s stock worth $4,057,000 after acquiring an additional 1,188 shares in the last quarter. Balboa Wealth Partners purchased a new stake in shares of Chubb during the 4th quarter worth about $260,000. Omnia Family Wealth LLC increased its position in Chubb by 30.4% during the fourth quarter. Omnia Family Wealth LLC now owns 982 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 229 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Chubb in the 4th quarter valued at about $156,000. Finally, Marquette Asset Management LLC increased its holdings in shares of Chubb by 167.3% in the 4th quarter. Marquette Asset Management LLC now owns 139 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.