Piper Sandler Reaffirms Neutral Rating for Chubb (NYSE:CB)

Piper Sandler restated their neutral rating on shares of Chubb (NYSE:CB - Free Report) in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has a $283.00 target price on the financial services provider's stock, down from their prior target price of $335.00.

A number of other research analysts have also recently issued reports on CB. UBS Group increased their target price on shares of Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $321.00 to $298.00 in a report on Monday, July 7th. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Jefferies Financial Group raised their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $302.64.

Chubb Stock Performance

NYSE CB traded down $0.90 during trading hours on Thursday, hitting $269.28. 2,979,052 shares of the stock were exchanged, compared to its average volume of 2,031,676. The company has a market cap of $107.91 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53. Chubb has a 12-month low of $252.16 and a 12-month high of $306.91. The stock has a 50-day moving average of $284.54 and a 200 day moving average of $282.24. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same period last year, the company posted $5.38 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chubb will post 21.52 earnings per share for the current year.

Chubb announced that its Board of Directors has initiated a share buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.44%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is 17.12%.

Insider Buying and Selling

In other news, COO John W. Keogh sold 9,794 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at $72,526,158.62. The trade was a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction 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 sale, the insider directly owned 91,180 shares of the company's stock, 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. In the last 90 days, insiders have sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is owned by company insiders.

Institutional Trading of Chubb

Several institutional investors have recently made changes to their positions in the stock. Peoples Bank KS acquired a new position in shares of Chubb during the 1st quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb during the 1st quarter valued at $25,000. North Capital Inc. acquired a new position in Chubb in the 1st quarter worth $26,000. IMA Advisory Services Inc. acquired a new position in Chubb in the 1st quarter worth $31,000. Finally, 1248 Management LLC acquired a new position in Chubb in the 1st quarter worth $31,000. 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.