Chubb (NYSE:CB) Price Target Raised to $324.00

Chubb (NYSE:CB - Free Report) had its target price lifted by Keefe, Bruyette & Woods from $314.00 to $324.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider's stock.

CB has been the subject of a number of other research reports. UBS Group lifted their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research note on Tuesday, May 20th. Raymond James Financial reissued a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $321.00 to $298.00 in a research note on Monday. Finally, Morgan Stanley lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $307.13.

Chubb Price Performance

Chubb stock traded up $0.51 during mid-day trading on Wednesday, reaching $280.51. The company had a trading volume of 1,675,236 shares, compared to its average volume of 1,749,449. The company has a market cap of $112.41 billion, a P/E ratio of 13.50, a P/E/G ratio of 3.11 and a beta of 0.53. The business has a fifty day simple moving average of $287.67 and a 200 day simple moving average of $282.17. 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 has a fifty-two week low of $252.16 and a fifty-two week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, equities research analysts predict 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 repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.38%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio is presently 18.67%.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 9,794 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total value 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 approximately $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the 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 transaction, 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. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 over the last ninety days. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Peoples Bank KS bought a new position in shares of Chubb during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the 1st quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the 1st quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb during the 4th quarter valued at approximately $29,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the 1st quarter valued at approximately $31,000. 83.81% of the stock is owned by 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.