Chubb (NYSE:CB) Price Target Raised to $336.00 at Wolfe Research

Key Points

• Wolfe Research has raised its price target for Chubb's stock from $320.00 to $336.00, suggesting a potential upside of 20.59%.
• Chubb reported earnings per share of $7.49 for the last quarter, exceeding estimates by $1.98 and marking a 7.5% year-over-year revenue increase.
• The company's consensus rating is currently "Hold", with analysts' price targets averaging $307.44.

Chubb (NYSE:CB - Get Free Report) had its price objective increased by investment analysts at Wolfe Research from $320.00 to $336.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has an "outperform" rating on the financial services provider's stock. Wolfe Research's price objective would suggest a potential upside of 20.59% from the company's current price.

CB has been the topic of several other research reports. JMP Securities reiterated a "market outperform" rating and set a $325.00 price target on shares of Chubb in a research report on Wednesday. Barclays boosted their price target on shares of Chubb from $298.00 to $310.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of Chubb from $299.00 to $303.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Hsbc Global Res lowered shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Chubb in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $307.44.

Chubb Stock Performance

Chubb stock opened at $278.64 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $111.09 billion, a PE ratio of 11.63, a P/E/G ratio of 3.03 and a beta of 0.54. The firm has a fifty day simple moving average of $277.36 and a two-hundred day simple moving average of $280.74. Chubb has a twelve month low of $252.16 and a twelve month high of $306.91.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping the consensus estimate of $5.51 by $1.98. The business had revenue of $14.87 billion during the quarter, compared to the consensus estimate of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 13.23%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $5.72 earnings per share. Research analysts expect that Chubb will post 21.52 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Chubb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CB. Brighton Jones LLC increased its holdings in Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Chubb in the fourth quarter worth $205,000. GAMMA Investing LLC increased its stake in shares of Chubb by 22.3% in the first quarter. GAMMA Investing LLC now owns 6,901 shares of the financial services provider's stock worth $2,084,000 after purchasing an additional 1,258 shares in the last quarter. Continuum Advisory LLC increased its stake in shares of Chubb by 59.4% in the first quarter. Continuum Advisory LLC now owns 161 shares of the financial services provider's stock worth $49,000 after purchasing an additional 60 shares in the last quarter. Finally, Legacy Advisors LLC increased its stake in shares of Chubb by 16.5% in the first quarter. Legacy Advisors LLC now owns 1,413 shares of the financial services provider's stock worth $428,000 after purchasing an additional 200 shares in the last quarter. 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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