Chubb (NYSE:CB) Price Target Raised to $360.00

Chubb (NYSE:CB) had its target price upped by investment analysts at Morgan Stanley from $350.00 to $360.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley‘s target price would indicate a potential upside of 0.87% from the stock’s current price.

Several other equities analysts have also recently issued reports on CB. UBS Group restated a “neutral” rating and issued a $380.00 price target on shares of Chubb in a research report on Monday. JPMorgan Chase & Co. increased their price objective on Chubb from $371.00 to $374.00 and gave the stock a “neutral” rating in a research report on Friday. Keefe, Bruyette & Woods lowered their target price on Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. Piper Sandler boosted their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $333.00 target price on shares of Chubb in a report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $362.05.

Chubb Price Performance

Shares of NYSE:CB opened at $356.90 on Tuesday. The company has a 50-day simple moving average of $341.73 and a 200-day simple moving average of $332.50. Chubb has a one year low of $273.35 and a one year high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.35. The stock has a market capitalization of $137.69 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.55 and a beta of 0.36.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The business had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.66 billion. During the same quarter in the prior year, the firm earned $7.49 earnings per share. On average, analysts predict that Chubb will post 28.33 EPS for the current year.

Insider Activity

In other news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IMG Wealth Management Inc. purchased a new position in Chubb in the second quarter worth $25,000. Dunhill Financial LLC acquired a new stake in Chubb in the second quarter valued at $25,000. Parvin Asset Management LLC acquired a new stake in Chubb in the second quarter valued at $26,000. Highland Investment Advisors LLC acquired a new stake in Chubb in the second quarter valued at $26,000. Finally, Frazier Financial Advisors LLC boosted its position in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.