Chubb (NYSE:CB) Downgraded by StockNews.com

Chubb (NYSE:CB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other brokerages have also weighed in on CB. HSBC reiterated a “hold” rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a research report on Thursday, April 4th. BMO Capital Markets increased their price objective on Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research report on Monday, February 5th. Piper Sandler reiterated an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. Morgan Stanley increased their price objective on Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company raised their price target on Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $266.89.

Chubb Stock Up 1.2 %

Shares of CB opened at $245.99 on Wednesday. Chubb has a 52 week low of $183.71 and a 52 week high of $260.58. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $99.87 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.17 and a beta of 0.62. The stock’s 50-day moving average price is $252.44 and its 200-day moving average price is $235.28.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.74% and a net margin of 17.99%. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter last year, the firm earned $4.41 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that Chubb will post 21.32 EPS for the current year.

Insider Activity at Chubb

In other Chubb news, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the sale, the insider now directly owns 130,937 shares in the company, valued at $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chubb news, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the sale, the insider now directly owns 130,937 shares in the company, valued at $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the sale, the executive vice president now owns 35,662 shares in the company, valued at $9,228,612.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,043 shares of company stock worth $29,766,694. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Chubb

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of Chubb by 426.8% during the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares during the last quarter. Norges Bank purchased a new position in shares of Chubb during the fourth quarter worth about $957,756,000. Confluence Investment Management LLC purchased a new position in shares of Chubb during the first quarter worth about $165,932,000. Bank of Nova Scotia grew its holdings in shares of Chubb by 198.8% during the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after buying an additional 518,535 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after buying an additional 495,860 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.