Chubb (NYSE:CB – Get Free Report) had its target price hoisted by equities research analysts at Morgan Stanley from $340.00 to $360.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 4.18% from the company’s previous close.
CB has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Piper Sandler increased their target price on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their target price on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Evercore reissued an “outperform” rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Finally, The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $361.00.
Check Out Our Latest Research Report on CB
Chubb Stock Performance
Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.14 earnings per share. Research analysts predict that Chubb will post 27.45 EPS for the current year.
Insider Transactions at Chubb
In related news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.
Institutional Trading of Chubb
Hedge funds have recently bought and sold shares of the stock. IMG Wealth Management Inc. purchased a new position in shares of Chubb in the 2nd quarter valued at $25,000. Dunhill Financial LLC purchased a new stake in shares of Chubb during the 2nd quarter worth $25,000. CBIZ Investment Advisory Services LLC boosted its position in Chubb by 148.5% during the fourth 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 in the last quarter. Parvin Asset Management LLC purchased a new position in Chubb in the second quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC grew its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other 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.
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