Chubb (NYSE:CB – Get Free Report)’s stock had its “market outperform” rating restated by JMP Securities in a research note issued on Wednesday, Benzinga reports. They currently have a $250.00 price target on the financial services provider’s stock. JMP Securities’ price target points to a potential upside of 21.55% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price target on shares of Chubb from $237.00 to $221.00 and set a “hold” rating for the company in a report on Monday, April 10th. JPMorgan Chase & Co. upped their price target on Chubb from $241.00 to $250.00 in a research report on Thursday, July 6th. Morgan Stanley initiated coverage on Chubb in a research note on Tuesday, June 20th. They set an “equal weight” rating and a $192.00 target price on the stock. StockNews.com cut shares of Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Finally, Citigroup raised shares of Chubb from a “neutral” rating to a “buy” rating and set a $229.00 target price for the company in a research report on Tuesday, April 18th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chubb presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.
Chubb Trading Up 5.2 %
Shares of CB stock traded up $10.16 during trading hours on Wednesday, reaching $205.68. 2,890,947 shares of the stock were exchanged, compared to its average volume of 1,830,899. The company’s 50-day moving average price is $192.70 and its 200-day moving average price is $201.50. Chubb has a 12-month low of $173.78 and a 12-month high of $231.37. The firm has a market capitalization of $85.19 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.65. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.27.
Chubb (NYSE:CB – Get Free Report) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share for the quarter, beating analysts’ consensus estimates of $4.41 by $0.51. The company had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $11.24 billion. Chubb had a return on equity of 13.13% and a net margin of 11.71%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.20 EPS. As a group, equities analysts anticipate that Chubb will post 17.57 earnings per share for the current year.
Chubb announced that its board has initiated a stock buyback program on Monday, June 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Hedge Funds Weigh In On Chubb
Several hedge funds have recently bought and sold shares of CB. Moneta Group Investment Advisors LLC raised its holdings in Chubb by 102,751.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock worth $1,828,733,000 after purchasing an additional 8,281,754 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Chubb by 17.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock worth $5,596,629,000 after acquiring an additional 4,210,564 shares during the last quarter. Norges Bank purchased a new position in shares of Chubb in the 4th quarter valued at about $619,661,000. Ontario Teachers Pension Plan Board increased its position in Chubb by 28,222.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 2,619,273 shares of the financial services provider’s stock worth $577,812,000 after buying an additional 2,610,025 shares during the period. Finally, FMR LLC grew its holdings in Chubb by 21.8% in the first quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock valued at $2,739,488,000 after purchasing an additional 2,528,499 shares during the last quarter. 87.39% of the stock is 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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.