Chubb (NYSE:CB) Price Target Raised to $360.00 at Morgan Stanley

Key Points

• Morgan Stanley raised Chubb’s price target from $340 to $360 while maintaining an “equal weight” rating, implying roughly 4.18% upside. The analyst consensus remains “Hold,” with an average target of $361.
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. Shares opened at $345.56 and were trading near their 52-week high of $365.91.
• Institutional investors own 83.81% of Chubb, with Berkshire Hathaway increasing its stake by 9.3% and T. Rowe Price boosting holdings by 25.6%; meanwhile, two company executives recently sold shares.

Chubb (NYSE:CB - Get Free Report) had its price target upped by research analysts at Morgan Stanley from $340.00 to $360.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective indicates a potential upside of 4.18% from the company's current price.

Several other research analysts have also recently weighed in on CB. Barclays set a $387.00 price objective on shares of Chubb in a report on Tuesday, July 7th. Jefferies Financial Group cut their price objective on Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. Cantor Fitzgerald upped their target price on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. UBS Group upped their price target on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chubb has a consensus rating of "Hold" and a consensus price target of $361.00.

Chubb Trading Up 1.4%

Shares of NYSE:CB opened at $345.56 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a market cap of $133.32 billion, a P/E ratio of 12.22, a PEG ratio of 1.70 and a beta of 0.39. The stock's fifty day moving average price is $345.10 and its 200-day moving average price is $332.77.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company earned $6.14 EPS. Sell-side analysts expect that Chubb will post 27.45 earnings per share for the current year.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm's 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 completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chubb

Institutional investors and hedge funds have recently made changes to their positions in the business. XXEC Inc. purchased a new position in Chubb in the second quarter worth about $228,226,000. Berkshire Hathaway Inc lifted its stake in shares of Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Chubb in the 2nd quarter valued at approximately $9,913,336,000. State Street Corp boosted its holdings in shares of Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

About Chubb

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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