Chubb (NYSE:CB) Price Target Raised to $300.00 at Morgan Stanley

Chubb (NYSE:CB) had its price objective boosted by Morgan Stanley from $280.00 to $300.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. JMP Securities restated a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of Chubb in a research note on Thursday, January 30th. Raymond James restated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Jefferies Financial Group upped their price objective on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Chubb currently has an average rating of “Moderate Buy” and an average target price of $307.53.

Chubb Stock Performance

CB stock opened at $290.34 on Monday. 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 cap of $116.35 billion, a P/E ratio of 12.78, a P/E/G ratio of 3.36 and a beta of 0.57. Chubb has a 12-month low of $251.42 and a 12-month high of $306.91. The stock’s 50 day simple moving average is $288.61 and its 200 day simple moving average is $280.92.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, equities research analysts predict that Chubb will post 21.52 EPS for the current year.

Chubb declared that its board has initiated a stock buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.97 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.34%. Chubb’s dividend payout ratio is presently 17.52%.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 12,231 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares of the company’s stock, valued at $23,120,374.04. This trade represents a 13.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at $170,321,922.75. This represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Peoples Bank KS bought a new position in Chubb during the first quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in Chubb during the first quarter valued at about $25,000. North Capital Inc. bought a new position in Chubb during the first quarter valued at about $26,000. Sierra Ocean LLC bought a new position in Chubb during the fourth quarter valued at about $29,000. Finally, Crowley Wealth Management Inc. bought a new position in Chubb during the fourth quarter valued at about $29,000. Institutional investors 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.