Chubb (NYSE:CB) Upgraded to Strong-Buy at Wolfe Research

Key Points

• Chubb was upgraded to a "strong-buy" rating by Wolfe Research, reflecting increased analyst confidence in the company's stock performance.
• The company's most recent earnings report showed that Chubb exceeded expectations, reporting $6.14 earnings per share compared to the consensus estimate of $5.84.
• Although Chubb's stock has received mixed ratings from various brokerage firms, the average target price is currently $303.06 with a general rating of "Hold".

Chubb (NYSE:CB - Get Free Report) was upgraded by analysts at Wolfe Research to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

CB has been the subject of several other reports. Evercore ISI set a $312.00 target price on shares of Chubb in a report on Wednesday, July 23rd. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Citigroup started coverage on Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price target for the company. Finally, HSBC lowered Chubb from a "buy" rating to a "hold" rating and dropped their price objective for the company from $317.00 to $300.00 in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chubb has an average rating of "Hold" and a consensus price target of $303.06.

Chubb Stock Performance

CB traded down $0.28 on Tuesday, reaching $274.00. 3,627,677 shares of the stock were exchanged, compared to its average volume of 1,812,037. The company's 50-day moving average price is $273.84 and its 200 day moving average price is $283.08. Chubb has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $109.24 billion, a PE ratio of 12.09, a PEG ratio of 3.07 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.38 EPS. As a group, sell-side analysts forecast that Chubb will post 21.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael Corbat purchased 425 shares of the company's stock in a transaction dated Friday, July 25th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. lifted its holdings in Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock valued at $291,000 after acquiring an additional 36 shares during the last quarter. Rise Advisors LLC lifted its holdings in Chubb by 4.6% in the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock valued at $254,000 after acquiring an additional 37 shares during the last quarter. Sunflower Bank N.A. lifted its stake in Chubb by 4.4% during the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after purchasing an additional 38 shares in the last quarter. Avantax Planning Partners Inc. lifted its stake in Chubb by 5.1% during the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after purchasing an additional 38 shares in the last quarter. Finally, Sky Investment Group LLC lifted its stake in Chubb by 1.6% during the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock worth $694,000 after purchasing an additional 38 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Company Profile

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.