Citizens Jmp reaffirmed their market outperform rating on shares of Chubb (NYSE:CB – Free Report) in a research note published on Wednesday morning,Benzinga reports. Citizens Jmp currently has a $400.00 price objective on the financial services provider’s stock.
A number of other research analysts also recently weighed in on the stock. Evercore reiterated an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Mizuho raised their target price on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Atlantic Securities set a $301.00 price target on Chubb in a research note on Wednesday, July 15th. Piper Sandler upped their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. increased their price target on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $360.09.
View Our Latest Analysis on Chubb
Chubb Stock Performance
Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The firm had revenue of $16.01 billion for 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 period in the prior year, the firm posted $6.14 earnings per share. Equities research analysts anticipate that Chubb will post 27.08 earnings per share for the current year.
Chubb Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio (DPR) is 14.43%.
Insider Activity
In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CB. Spire Wealth Management boosted its stake in Chubb by 490.5% during the fourth quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider’s stock worth $2,689,000 after buying an additional 7,156 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in shares of Chubb by 7.4% in the 4th quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider’s stock worth $31,970,000 after acquiring an additional 7,043 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Chubb by 42.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider’s stock worth $4,446,000 after acquiring an additional 4,233 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock worth $102,959,000 after acquiring an additional 5,225 shares during the last quarter. Finally, waypoint wealth counsel raised its holdings in shares of Chubb by 76.4% during the 4th quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider’s stock worth $1,285,000 after acquiring an additional 1,784 shares during the period. 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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