Chubb (NYSE:CB) Stock Price Target Cut by Morgan Stanley

Key Points

• Morgan Stanley lowered Chubb’s price target from $360 to $350 while maintaining an “equal weight” rating, implying 4.72% upside from the prior close.
• Analyst sentiment remains mixed: Chubb has a consensus “Hold” rating and an average price target of $360.32, with targets ranging from $301 to $387.
• Chubb recently beat quarterly earnings expectations, reporting EPS of $7.26 versus the $6.77 consensus estimate, while revenue rose 3.6% year over year.

Chubb (NYSE:CB - Get Free Report) had its target price lowered by research analysts at Morgan Stanley from $360.00 to $350.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price would indicate a potential upside of 4.72% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Evercore reissued an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Barclays set a $387.00 target price on shares of Chubb in a report on Tuesday, July 7th. Wells Fargo & Company lowered their price target on shares of Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. Finally, Atlantic Securities set a $301.00 price objective on Chubb in a research note on Wednesday, July 15th. One 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 given a Sell rating to the company's stock. Based on data from MarketBeat, Chubb currently has a consensus rating of "Hold" and an average target price of $360.32.

Chubb Price Performance

Shares of CB traded up $3.75 during midday trading on Tuesday, hitting $334.24. 505,229 shares of the company traded hands, compared to its average volume of 1,724,809. The firm has a 50 day moving average of $341.89 and a 200-day moving average of $335.13. Chubb has a 52 week low of $265.30 and a 52 week high of $365.91. The stock has a market cap of $128.95 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.47 and a beta of 0.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business's revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.14 earnings per share. On average, analysts forecast 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 stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the firm's 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 in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Chubb

A number of hedge funds and other institutional investors have recently made changes to their positions in CB. XXEC Inc. acquired a new stake in Chubb in the second quarter valued at $228,226,000. Berkshire Hathaway Inc purchased a new position in shares of Chubb during the second quarter worth approximately $11,670,067,000. BlackRock Inc. purchased a new position in Chubb during the 2nd quarter worth $9,913,336,000. GQG Partners LLC acquired a new position in Chubb in the 2nd quarter valued at about $4,250,113,000. Finally, Bank of America Corp DE purchased a new stake in shares of Chubb during the second quarter worth approximately $1,545,084,000. 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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