Chubb (NYSE:CB) Price Target Raised to $285.00 at Wells Fargo & Company

Chubb (NYSE:CB - Get Free Report) had its target price hoisted by equities research analysts at Wells Fargo & Company from $278.00 to $285.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target points to a potential upside of 1.60% from the company's current price.

A number of other research analysts have also recently commented on the company. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $321.00 to $298.00 in a research note on Monday. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Piper Sandler lifted their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. raised their target price on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Chubb Stock Performance

Shares of NYSE CB traded up $0.51 during midday trading on Thursday, hitting $280.51. The company's stock had a trading volume of 1,675,242 shares, compared to its average volume of 1,645,886. The firm has a market capitalization of $112.41 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 3.11 and a beta of 0.53. The stock has a fifty day moving average price of $287.67 and a 200 day moving average price of $282.17. Chubb has a one year low of $252.16 and a one year high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, research analysts forecast that Chubb will post 21.52 EPS for the current fiscal year.

Chubb declared that its board has authorized a share repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer directly owned 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,390 shares of company stock valued at $29,163,135 over the last three months. 0.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chubb

A number of institutional investors have recently added to or reduced their stakes in CB. Peoples Bank KS acquired a new stake in shares of Chubb in the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the 1st quarter valued at approximately $25,000. North Capital Inc. acquired a new position in shares of Chubb during the 1st quarter worth about $26,000. IMA Advisory Services Inc. acquired a new position in Chubb during the 1st quarter valued at $31,000. Finally, 1248 Management LLC bought a new stake in shares of Chubb in the 1st quarter worth approximately $31,000. 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.