Chubb (NYSE:CB) Stock Gets Price Target Trim from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods lowered Chubb’s price target from $389 to $387 while maintaining an “outperform” rating, implying 13.47% upside from the previous close.
• Analyst sentiment is mixed, with one Strong Buy, eight Buy, twelve Hold, and one Sell rating; MarketBeat reports a consensus “Hold” rating and an average price target of $358.36.
• Chubb’s latest quarterly earnings beat estimates, with adjusted earnings of $7.26 per share versus $6.77 expected, while revenue rose 3.6% year over year to $11.97 billion.

Chubb (NYSE:CB - Get Free Report) had its target price lowered by Keefe, Bruyette & Woods from $389.00 to $387.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 13.47% from the stock's previous close.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group increased their price target on Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Piper Sandler boosted their price objective on Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Morgan Stanley reduced their price objective on Chubb from $360.00 to $350.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 6th. Finally, HSBC restated a "hold" rating and set a $359.00 target price on shares of Chubb in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $358.36.

Chubb Price Performance

NYSE:CB opened at $341.07 on Monday. The firm has a market cap of $131.58 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.50 and a beta of 0.36. Chubb has a 12 month low of $265.30 and a 12 month high of $365.91. 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's 50-day moving average price is $340.42 and its two-hundred day moving average price is $335.50.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the business posted $6.14 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that Chubb will post 27.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction that occurred on 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 owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Connors sold 5,500 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company's stock, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. XXEC Inc. acquired a new position in shares of Chubb in the second quarter valued at about $228,226,000. Berkshire Hathaway Inc bought a new position in Chubb during the second quarter worth about $11,670,067,000. BlackRock Inc. acquired a new stake in Chubb in the 2nd quarter worth about $9,913,336,000. GQG Partners LLC acquired a new stake in Chubb in the 2nd quarter worth about $4,250,113,000. Finally, Bank of America Corp DE acquired a new stake in Chubb in the 2nd quarter worth about $1,545,084,000. 83.81% of the stock is currently owned by 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.