Chubb (NYSE:CB) Given New $315.00 Price Target at Evercore ISI

Key Points

• Evercore ISI raised its price target for Chubb from $312.00 to $315.00, indicating a potential upside of 11.37% from the current price, while maintaining an "outperform" rating.
• Chubb recently reported earnings of $6.14 per share, surpassing analyst expectations, with a revenue of $14.20 billion in the last quarter, reflecting a 6.3% year-over-year increase.
• A range of analysts have given Chubb various ratings, with the consensus being a "Hold" rating and an average price target of $303.24.

Chubb (NYSE:CB - Get Free Report) had its price target raised by research analysts at Evercore ISI from $312.00 to $315.00 in a report issued on Wednesday,MarketScreener reports. The firm currently has an "outperform" rating on the financial services provider's stock. Evercore ISI's target price would indicate a potential upside of 11.37% from the stock's current price.

A number of other equities research analysts also recently commented on CB. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Morgan Stanley dropped their price target on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Citigroup assumed coverage on Chubb in a report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price objective for the company. Cantor Fitzgerald raised Chubb to a "hold" rating in a research report on Wednesday, August 13th. Finally, HSBC cut Chubb from a "buy" rating to a "hold" rating and cut their price objective for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $303.24.

Chubb Stock Performance

Shares of Chubb stock traded up $0.60 during trading hours on Wednesday, reaching $282.85. 45,067 shares of the stock traded hands, compared to its average volume of 1,789,939. The company has a 50 day moving average price of $274.00 and a 200 day moving average price of $282.44. The firm has a market capitalization of $112.77 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 3.16 and a beta of 0.56. Chubb has a one year low of $252.16 and a one year high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the company earned $5.38 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.86% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Chubb in the first quarter worth about $25,000. North Capital Inc. acquired a new position in Chubb in the 1st quarter valued at about $26,000. IMA Advisory Services Inc. acquired a new position in Chubb in the first quarter valued at approximately $31,000. 1248 Management LLC purchased a new stake in Chubb in the first quarter valued at approximately $31,000. Finally, VSM Wealth Advisory LLC purchased a new position in Chubb in the second quarter worth $32,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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