JPMorgan Chase & Co. Increases Chubb (NYSE:CB) Price Target to $340.00

Chubb (NYSE:CB) had its target price raised by stock analysts at JPMorgan Chase & Co. from $330.00 to $340.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 2.77% from the stock’s previous close.

A number of other research firms also recently weighed in on CB. Wells Fargo & Company decreased their price target on Chubb from $322.00 to $321.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. UBS Group restated a “neutral” rating and issued a $340.00 price target on shares of Chubb in a research note on Monday, February 9th. Roth Mkm lifted their price objective on Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. BMO Capital Markets lifted their price objective on Chubb from $283.00 to $326.00 and gave the company a “market perform” rating in a report on Tuesday, February 10th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $350.00 price target on shares of Chubb in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus price target of $346.33.

Chubb Price Performance

Shares of CB stock traded up $0.02 during trading hours on Monday, hitting $330.85. 613,126 shares of the company’s stock were exchanged, compared to its average volume of 1,698,757. The stock’s 50-day moving average is $329.06 and its 200-day moving average is $308.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market cap of $129.11 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.76 and a beta of 0.49. Chubb has a 52 week low of $264.10 and a 52 week high of $345.67.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter last year, the business earned $6.02 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that Chubb will post 21.52 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the transaction, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the transaction, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 44,877 shares of company stock valued at $14,885,226 over the last ninety days. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chubb

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC increased its holdings in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Chubb by 93.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after buying an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Chubb by 155.6% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in Chubb during the 4th quarter valued at $31,000. Finally, Ares Financial Consulting LLC purchased a new position in shares of Chubb in the 4th quarter worth $32,000. Institutional investors own 83.81% of the company’s stock.

Chubb Company Profile

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.