Chubb (NYSE:CB) Price Target Cut to $268.00 by Analysts at Wells Fargo & Company

Chubb (NYSE:CB) had its price target dropped by analysts at Wells Fargo & Company from $271.00 to $268.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 5.78% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. UBS Group lifted their price target on shares of Chubb from $298.00 to $303.00 and gave the company a “neutral” rating in a report on Wednesday. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research report on Wednesday, January 29th. Piper Sandler lifted their price objective on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $303.00.

Chubb Stock Performance

CB traded down $0.19 on Thursday, hitting $284.43. 901,586 shares of the stock traded hands, compared to its average volume of 1,628,501. The business has a fifty day moving average price of $282.65 and a two-hundred day moving average price of $281.38. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $113.89 billion, a PE ratio of 12.50, a P/E/G ratio of 3.36 and a beta of 0.47. Chubb has a 52 week low of $238.85 and a 52 week high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, research analysts predict that Chubb will post 21.52 EPS for the current fiscal year.

Insider Buying and Selling at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This trade represents a 33.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the transaction, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chubb

Several institutional investors have recently modified their holdings of CB. Peoples Bank KS acquired a new position in shares of Chubb in the first quarter valued at approximately $25,000. Continuum Advisory LLC boosted its stake in Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares during the period. Sierra Ocean LLC bought a new position in Chubb during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb in the 4th quarter valued at about $29,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Chubb in the fourth quarter valued at about $30,000. Institutional investors own 83.81% of the company’s stock.

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.