Chubb (NYSE:CB) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies Financial Group has raised Chubb's target price from $295.00 to $297.00, suggesting a potential upside of 3.05% from the current stock price.
• Chubb's recent quarterly earnings reported $6.14 earnings per share, surpassing estimates, and demonstrating a 6.3% revenue increase compared to the previous year.
• Several brokerages have adjusted their ratings, with two assessing it as a "Strong Buy," while the consensus rating remains a "Hold" with an average target price of $303.78.

Chubb (NYSE:CB - Get Free Report) had its target price boosted by analysts at Jefferies Financial Group from $295.00 to $297.00 in a report issued on Tuesday,MarketScreener reports. The firm currently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's target price would suggest a potential upside of 3.05% from the stock's current price.

Several other brokerages have also recently weighed in on CB. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Wells Fargo & Company lowered their target price on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. UBS Group lowered their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Piper Sandler restated a "neutral" rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Wolfe Research raised Chubb to a "strong-buy" rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $303.78.

Chubb Stock Performance

Shares of CB stock opened at $288.22 on Tuesday. The company has a market cap of $114.91 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 3.23 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 quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $275.58 and a 200-day moving average of $282.08.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results 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. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the firm posted $5.38 EPS. Chubb's revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Chubb will post 21.52 earnings per share for the current year.

Insider Activity at Chubb

In related news, Director Michael Corbat bought 425 shares of the business's stock in a transaction dated Friday, July 25th. The shares were purchased at an average cost 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 approximately $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company's stock.

Institutional Investors Weigh In On Chubb

Several institutional investors have recently modified their holdings of CB. Opal Wealth Advisors LLC bought a new position in Chubb in the first quarter valued at about $25,000. North Capital Inc. bought a new position in Chubb in the first quarter valued at about $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the first quarter worth about $31,000. 1248 Management LLC bought a new position in shares of Chubb in the first quarter worth about $31,000. Finally, WPG Advisers LLC bought a new position in shares of Chubb in the first quarter worth about $33,000. 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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