Chubb (NYSE:CB) Price Target Lowered to $267.00 at Wells Fargo & Company

Chubb (NYSE:CB - Get Free Report) had its target price lowered by research analysts at Wells Fargo & Company from $285.00 to $267.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target would indicate a potential downside of 1.65% from the company's previous close.

CB has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a research note on Tuesday, May 20th. Jefferies Financial Group raised their price target on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley boosted their price target on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Chubb currently has an average rating of "Moderate Buy" and a consensus price target of $302.47.

Chubb Stock Up 0.5%

CB stock traded up $1.34 during trading hours on Thursday, reaching $271.49. 523,355 shares of the stock were exchanged, compared to its average volume of 1,773,079. Chubb has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a market cap of $108.79 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 3.09 and a beta of 0.53. The firm's 50-day moving average is $285.47 and its 200-day moving average is $282.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.55%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the business posted $5.38 EPS. The firm's 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 year.

Chubb declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer directly owned 237,728 shares in the company, valued at $68,998,174.72. This trade represents a 26.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 100,390 shares of company stock worth $29,163,135. Insiders own 0.77% of the company's stock.

Institutional Trading of Chubb

A number of large investors have recently bought and sold shares of CB. Brighton Jones LLC grew its position in Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Chubb in the fourth quarter worth $205,000. Bank Pictet & Cie Europe AG bought a new position in Chubb during the fourth quarter valued at approximately $1,320,000. Congress Wealth Management LLC DE raised its holdings in shares of Chubb by 8.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,876 shares of the financial services provider's stock worth $518,000 after buying an additional 144 shares during the period. Finally, Modern Wealth Management LLC increased its holdings in Chubb by 18.2% during the 4th quarter. Modern Wealth Management LLC now owns 2,187 shares of the financial services provider's stock worth $583,000 after purchasing an additional 337 shares during the period. 83.81% of the stock is owned by 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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