Morgan Stanley Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Key Points

• Morgan Stanley raised Chubb’s price target from $350 to $360 while maintaining an “equal weight” rating, implying just 0.87% upside from the prior close. The analyst consensus remains “Hold,” with an average target of $362.05.
• Chubb reported stronger-than-expected quarterly results, with EPS of $7.66 versus the $6.77 consensus and revenue of $16.20 billion compared with estimates of $15.66 billion.
• Chubb shares opened at $356.90, near their 52-week high of $365.91. Institutional investors own 83.81% of the company, while a director recently sold 5,500 shares.

Chubb (NYSE:CB - Get Free Report) had its target price raised by Morgan Stanley from $350.00 to $360.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective points to a potential upside of 0.87% from the company's previous close.

A number of other research analysts also recently issued reports on the stock. Barclays set a $387.00 price target on shares of Chubb in a report on Tuesday, July 7th. Evercore restated an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. HSBC reiterated a "hold" rating and set a $359.00 target price on shares of Chubb in a research note on Wednesday, October 7th. Citizens Jmp reissued a "market outperform" rating and issued a $400.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Finally, Citigroup reissued a "buy" rating and issued a $405.00 target price (up from $395.00) on shares of Chubb in a report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $362.05.

Chubb Stock Up 0.5%

Shares of NYSE:CB opened at $356.90 on Tuesday. Chubb has a 1 year low of $273.35 and a 1 year high of $365.91. The firm's 50-day moving average is $341.73 and its two-hundred day moving average is $332.50. The firm has a market capitalization of $137.69 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.35 and a quick ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.89. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same period in the prior year, the business earned $7.49 EPS. Analysts predict that Chubb will post 28.33 EPS for the current year.

Insider Activity at Chubb

In other news, Director Michael Connors sold 5,500 shares of the business's stock in a transaction dated 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 completion of the sale, the director directly owned 12,803 shares of the company's stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CB. IMG Wealth Management Inc. purchased a new stake in Chubb in the second quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the second quarter valued at approximately $25,000. Parvin Asset Management LLC acquired a new stake in shares of Chubb in the second quarter valued at approximately $26,000. Highland Investment Advisors LLC purchased a new position in shares of Chubb during the second quarter worth approximately $26,000. Finally, Frazier Financial Advisors LLC grew its position in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

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