Chubb (NYSE:CB) Given New $336.00 Price Target at Mizuho

Key Points

• Mizuho lowered Chubb’s price target from $347 to $336 while maintaining a “neutral” rating, implying roughly 0.2% downside from the prior close.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $359; targets from other firms range from $350 to $374.
• Chubb reported quarterly EPS of $7.26, beating the $6.77 consensus estimate, while revenue rose 3.6% year over year. Shares recently traded at $336.67.

Chubb (NYSE:CB - Get Free Report) had its target price decreased by Mizuho from $347.00 to $336.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Mizuho's price target suggests a potential downside of 0.20% from the stock's previous close.

Several other brokerages also recently issued reports on CB. Evercore restated an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Citigroup reissued a "market outperform" rating on shares of Chubb in a research note on Wednesday, July 22nd. Morgan Stanley reduced their target price on shares of Chubb from $360.00 to $350.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Chubb from $340.00 to $370.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $359.00.

Chubb Price Performance

Shares of CB traded up $2.46 during mid-day trading on Wednesday, reaching $336.67. 338,586 shares of the company's stock were exchanged, compared to its average volume of 1,721,683. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $341.30 and a two-hundred day simple moving average of $335.17. Chubb has a 52-week low of $265.30 and a 52-week high of $365.91. The company has a market cap of $129.89 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.46 and a beta of 0.36.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb's revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.14 EPS. On average, sell-side analysts predict that Chubb will post 27.39 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael P. Connors sold 5,500 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CB. IMG Wealth Management Inc. purchased a new stake in Chubb during the second quarter valued at about $25,000. Dunhill Financial LLC purchased a new position in shares of Chubb in the 2nd quarter worth about $25,000. Parvin Asset Management LLC purchased a new position in shares of Chubb in the 2nd quarter worth about $26,000. Highland Investment Advisors LLC acquired a new position in shares of Chubb in the 2nd quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after purchasing an additional 38 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Company Profile

Chubb Limited NYSE: CB is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers' compensation, homeowners insurance, automobile coverage, and specialty insurance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.