The Goldman Sachs Group Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Key Points

• The Goldman Sachs Group has raised its price target for Chubb (NYSE:CB) from $299.00 to $303.00, signaling a potential upside of 6.32% from the stock's previous close.
• Chubb reported a quarterly EPS of $6.14, surpassing analysts' expectations by 30 cents, with a revenue increase of 6.3% year-over-year.
• The average rating for Chubb's stock remains at "Hold" with an average target price of $303.72, supported by various analysts' ratings ranging from Strong Buy to Sell.

Chubb (NYSE:CB - Get Free Report) had its price target boosted by equities researchers at The Goldman Sachs Group from $299.00 to $303.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's price objective indicates a potential upside of 6.32% from the stock's previous close.

Several other analysts also recently weighed in on the company. Wells Fargo & Company reduced their target price on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Citigroup began coverage on Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 price objective for the company. Evercore ISI upped their price objective on Chubb from $312.00 to $315.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Finally, UBS Group dropped their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Chubb has an average rating of "Hold" and an average target price of $303.72.

Chubb Stock Up 1.3%

Shares of NYSE CB opened at $285.00 on Monday. The company has a market capitalization of $113.62 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54. 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 business has a 50-day moving average of $274.76 and a two-hundred day moving average of $282.06. Chubb has a 1 year low of $252.16 and a 1 year high of $306.91.

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

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in Chubb in the first quarter valued at about $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the first quarter worth about $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb during the first quarter worth about $31,000. 1248 Management LLC purchased a new stake in shares of Chubb during the first quarter worth about $31,000. Finally, WPG Advisers LLC purchased a new stake in shares of Chubb during the first quarter worth about $33,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

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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