Chubb (NYSE:CB) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Key Points

• Cantor Fitzgerald raised Chubb’s price target from $330 to $333 while maintaining a “neutral” rating; the target implies roughly 0.37% downside from the stock’s $334.24 price.
• Analysts have a consensus “Hold” rating on Chubb, with an average price target of $359.50. Recent targets range from $370 at JPMorgan to $400 at Citizens JMP.
• Chubb reported quarterly earnings of $7.26 per share, exceeding estimates of $6.77, while revenue rose 3.6% year over year. Major institutional investors, including Berkshire Hathaway and BlackRock, initiated substantial positions, though two insiders recently sold shares.

Chubb (NYSE:CB - Get Free Report) had its price objective hoisted by investment analysts at Cantor Fitzgerald from $330.00 to $333.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Cantor Fitzgerald's price target suggests a potential downside of 0.37% from the stock's current price.

Several other brokerages have also recently weighed in on CB. JPMorgan Chase & Co. raised their price objective on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Barclays set a $387.00 price target on shares of Chubb in a research report on Tuesday, July 7th. The Goldman Sachs Group boosted 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. Citizens Jmp reissued a "market outperform" rating and set a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded Chubb from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Chubb currently has a consensus rating of "Hold" and an average target price of $359.50.

Chubb Stock Performance

Shares of CB opened at $334.24 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50 day moving average price of $341.30 and a two-hundred day moving average price of $335.17. The firm has a market capitalization of $128.95 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.46 and a beta of 0.36. Chubb has a 52 week low of $265.30 and a 52 week high of $365.91.

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 for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. The company 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%.The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $6.14 earnings per share. Equities analysts forecast that Chubb will post 27.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction 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 transaction, the director owned 12,803 shares of the company's stock, valued at $4,417,035. This represents a 30.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company's stock.

Hedge Funds Weigh In On Chubb

Several large investors have recently modified their holdings of CB. XXEC Inc. purchased a new position in Chubb in the 2nd quarter valued at approximately $228,226,000. Berkshire Hathaway Inc bought a new position in shares of Chubb in the second quarter worth $11,670,067,000. BlackRock Inc. purchased a new position in shares of Chubb in the second quarter valued at $9,913,336,000. GQG Partners LLC bought a new stake in shares of Chubb during the 2nd quarter valued at $4,250,113,000. Finally, Bank of America Corp DE purchased a new stake in Chubb during the 2nd quarter worth about $1,545,084,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

About Chubb

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.

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