Chubb (NYSE:CB) Price Target Raised to $277.00 at Wells Fargo & Company

Key Points

• Chubb's target price has been raised by Wells Fargo & Company from $267.00 to $277.00, maintaining an "equal weight" rating despite indicating a potential downside of 4.30% from the current price.
• Other research firms have mixed views, with UBS lowering its target to $292.00 and Citigroup initiating coverage with a "buy" rating at a target of $326.00.
• Chubb's recent earnings report beat expectations, revealing $6.14 EPS, significantly above the estimated $5.84, and a revenue of $14.20 billion, exceeding expectations of $12.53 billion.

Chubb (NYSE:CB - Get Free Report) had its target price lifted by investment analysts at Wells Fargo & Company from $267.00 to $277.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's target price indicates a potential downside of 4.30% from the stock's current price.

Several other research firms have also commented on CB. UBS Group cut their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Chubb in a report on Saturday, September 27th. Citigroup began coverage on Chubb in a report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price objective on the stock. HSBC lowered Chubb from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Cantor Fitzgerald raised Chubb to a "hold" rating in a report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $304.33.

Chubb Trading Up 0.1%

Chubb stock traded up $0.21 during midday trading on Wednesday, reaching $289.45. 108,705 shares of the stock traded hands, compared to its average volume of 1,780,195. The company has a 50-day simple moving average of $275.58 and a two-hundred day simple moving average of $282.08. Chubb has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market cap of $115.40 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 3.23 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.86% of the company's stock.

Hedge Funds Weigh In On Chubb

Large investors have recently modified their holdings of the company. GQG Partners LLC grew its stake in shares of Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after buying an additional 4,964,298 shares in the last quarter. Norges Bank acquired a new stake in shares of Chubb in the second quarter valued at about $1,195,137,000. Nuveen LLC acquired a new stake in shares of Chubb in the first quarter valued at about $562,221,000. Demars Financial Group LLC grew its stake in shares of Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after buying an additional 878,177 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after buying an additional 513,852 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Company Profile

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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