JPMorgan Chase & Co. Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Key Points

• JPMorgan Chase & Co. has increased Chubb's price target from $321.00 to $327.00, indicating a potential upside of 13.22% from its previous close, while maintaining a "neutral" rating on the stock.
• Chubb's recent quarterly earnings report showed an earnings per share of $6.14, surpassing analysts' expectations, with revenue growth of 6.3% year-over-year at $14.20 billion.
• Institutional investors control approximately 83.81% of Chubb's stock, with significant investments made by GQG Partners and Norges Bank recently increasing their holdings.

Chubb (NYSE:CB - Get Free Report) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $321.00 to $327.00 in a report released on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 13.22% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup began coverage on Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price for the company. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. UBS Group reduced their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Wolfe Research raised shares of Chubb to a "strong-buy" rating in a research note on Tuesday, September 16th. Finally, Barclays increased their price objective on shares of Chubb from $298.00 to $310.00 and gave the company an "equal weight" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $305.44.

Chubb Trading Up 0.6%

Shares of NYSE CB opened at $288.82 on Thursday. Chubb has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a 50-day moving average of $276.00 and a two-hundred day moving average of $282.12. The company has a market cap of $115.15 billion, a PE ratio of 12.73, a P/E/G ratio of 3.26 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share 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 business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business posted $5.38 earnings per share. Chubb's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts expect that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Activity

In other Chubb news, Director Michael Corbat bought 425 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Chubb

Several large investors have recently made changes to their positions in the stock. GQG Partners LLC lifted its position in Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares in the last quarter. Norges Bank acquired a new stake in shares of Chubb in the 2nd quarter valued at about $1,195,137,000. Nuveen LLC bought a new stake in shares of Chubb in the first quarter valued at about $562,221,000. Demars Financial Group LLC lifted its holdings in shares of Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock worth $1,428,278,000 after buying an additional 513,852 shares during the period. Institutional investors own 83.81% of the company's stock.

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.

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