Wolfe Research Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

Key Points

• Wolfe Research raised its price target on Chubb to $373 (from $372) and maintained an "outperform" rating, implying roughly a 14.43% upside from the prior close.
• Chubb reported quarterly EPS of $7.52, beating estimates and showing revenue up 8.9% year-over-year, but the MarketBeat consensus remains a "Hold" with a $345.19 target.
• Insiders have been net sellers recently (including CEO Evan G. Greenberg), with insider ownership around 0.77% while institutional investors own about 83.8% of the company.

Chubb (NYSE:CB - Get Free Report) had its price target hoisted by analysts at Wolfe Research from $372.00 to $373.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Wolfe Research's target price points to a potential upside of 14.43% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Mizuho increased their price objective on shares of Chubb from $317.00 to $336.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. Piper Sandler raised their price target on Chubb from $283.00 to $319.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. The Goldman Sachs Group increased their target price on Chubb from $366.00 to $368.00 and gave the stock a "buy" rating in a research note on Monday, March 30th. Morgan Stanley set a $350.00 price target on shares of Chubb in a research note on Friday, January 16th. Finally, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Chubb in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $345.19.

Chubb Stock Down 0.3%

CB stock opened at $325.97 on Monday. The company has a market cap of $127.20 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.75 and a beta of 0.49. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb has a 12 month low of $264.10 and a 12 month high of $345.67. The firm has a 50-day moving average of $326.55 and a two-hundred day moving average of $305.36.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same period in the previous year, the firm earned $6.02 EPS. Chubb's revenue was up 8.9% on a year-over-year basis. As a group, analysts forecast that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Olivier Steimer sold 2,000 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director directly owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,877 shares of company stock valued at $14,885,226 over the last quarter. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Chubb

Several large investors have recently modified their holdings of the company. Spire Wealth Management raised its position in Chubb by 490.5% during the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock worth $2,689,000 after buying an additional 7,156 shares during the last quarter. Chesley Taft & Associates LLC raised its holdings in Chubb by 7.4% during the fourth quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider's stock worth $31,970,000 after purchasing an additional 7,043 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in Chubb by 42.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider's stock valued at $4,446,000 after purchasing an additional 4,233 shares during the period. Westbourne Investment Advisors Inc. boosted its holdings in Chubb by 12.3% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider's stock valued at $6,275,000 after purchasing an additional 2,427 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in Chubb during the 3rd quarter worth approximately $3,123,000. 83.81% of the stock is owned by institutional investors and hedge funds.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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