Chubb (NYSE:CB) Given New $358.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Chubb from $333 to $358 while keeping an equal weight rating, implying about 2.77% upside from the current price.
• Several other analysts also adjusted their views on Chubb, with the latest consensus from MarketBeat showing an overall Hold rating and an average price target of $355.95.
• Chubb shares were down 1.9% to $348.35 in Thursday trading, and the company reported recent quarterly EPS of $6.82 on revenue of $14.93 billion.

Chubb (NYSE:CB - Get Free Report) had its target price lifted by equities research analysts at Wells Fargo & Company from $333.00 to $358.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 2.77% from the stock's current price.

A number of other analysts also recently weighed in on CB. Barclays set a $387.00 price objective on Chubb in a report on Tuesday. Wolfe Research lifted their target price on Chubb from $372.00 to $373.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. BMO Capital Markets upped their price target on Chubb from $326.00 to $339.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Piper Sandler increased their price target on Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Finally, UBS Group raised their price objective on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Chubb presently has a consensus rating of "Hold" and an average price target of $355.95.

Chubb Trading Down 1.9%

NYSE:CB traded down $6.74 during mid-day trading on Thursday, hitting $348.35. 622,433 shares of the company's stock were exchanged, compared to its average volume of 1,695,625. The company has a 50 day simple moving average of $329.14 and a 200-day simple moving average of $324.08. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb has a fifty-two week low of $264.10 and a fifty-two week high of $365.29. The firm has a market capitalization of $135.11 billion, a P/E ratio of 12.32, a PEG ratio of 1.84 and a beta of 0.40.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, research analysts expect that Chubb will post 26.77 earnings per share for the current year.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company's stock.

Institutional Trading of Chubb

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Chubb in the 4th quarter valued at about $205,000. Woodline Partners LP raised its stake in Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock worth $3,805,000 after buying an additional 1,449 shares during the period. Sivia Capital Partners LLC raised its stake in Chubb by 14.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after buying an additional 175 shares during the period. Finally, Sei Investments Co. boosted its holdings in Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock worth $58,305,000 after acquiring an additional 17,155 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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