Chubb (NYSE:CB) Price Target Raised to $279.00 at Bank of America

Key Points

• Bank of America has raised its price target for Chubb from $276 to $279, maintaining an "underperform" rating, indicating a potential downside of 1.52% from its current price.
• Several analysts have provided mixed ratings on Chubb, with a consensus price target of $305.28 and a majority rating the stock as a “Hold”.
• In the latest quarter, Chubb reported an EPS of $6.14, exceeding expectations, with revenues of $14.20 billion, which is a 6.3% increase year-over-year.

Chubb (NYSE:CB - Get Free Report) had its price objective lifted by equities research analysts at Bank of America from $276.00 to $279.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has an "underperform" rating on the financial services provider's stock. Bank of America's target price would indicate a potential downside of 1.52% from the company's current price.

Several other equities research analysts have also recently weighed in on CB. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and lowered their price objective for the company from $317.00 to $300.00 in a research report on Friday, August 1st. Jefferies Financial Group lifted their price target on shares of Chubb from $295.00 to $297.00 and gave the stock a "hold" rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Chubb in a research report on Wednesday, October 8th. Wolfe Research upgraded shares of Chubb to a "strong-buy" rating in a research report on Tuesday, September 16th. Finally, Morgan Stanley lowered their price target on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $305.28.

Chubb Price Performance

NYSE:CB opened at $283.32 on Monday. The company has a 50-day moving average of $276.97 and a 200-day moving average of $281.70. The company has a market capitalization of $112.95 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 3.18 and a beta of 0.54. Chubb has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

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

Insiders Place Their Bets

In related news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.86% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new position in Chubb during the first quarter worth $25,000. North Capital Inc. bought a new stake in Chubb during the first quarter worth $26,000. IMA Advisory Services Inc. bought a new stake in Chubb during the first quarter worth $31,000. 1248 Management LLC bought a new stake in Chubb during the first quarter worth $31,000. Finally, VSM Wealth Advisory LLC bought a new position in Chubb during the second quarter worth about $32,000. Institutional investors and hedge funds own 83.81% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.