Chubb (NYSE:CB) Price Target Raised to $358.00 at Wells Fargo & Company

Chubb (NYSE:CB) had its price target increased by investment analysts at Wells Fargo & Company from $333.00 to $358.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 2.77% from the stock’s previous close.

A number of other research firms have also weighed in on CB. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and upped their target price for the stock from $370.00 to $373.00 in a report on Monday. Cantor Fitzgerald boosted their price objective on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a report on Thursday. Citizens Jmp increased their price objective on Chubb from $350.00 to $365.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a report on Monday, March 23rd. Finally, Piper Sandler lifted their target price on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $355.95.

Chubb Stock Down 1.9%

CB stock traded down $6.74 during midday trading on Thursday, reaching $348.35. 622,433 shares of the company’s stock traded hands, compared to its average volume of 1,695,625. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $329.14 and its 200-day moving average price is $324.08. Chubb has a 52 week low of $264.10 and a 52 week high of $365.29. The company has a market cap of $135.11 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.84 and a beta of 0.40.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, sell-side analysts forecast that Chubb will post 26.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Institutional Trading of Chubb

A number of institutional investors and hedge funds have recently modified their holdings of the business. Deane Retirement Strategies Inc. purchased a new position in Chubb in the second quarter worth $3,925,000. Sax Wealth Advisors LLC increased its position in shares of Chubb by 124.0% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,238 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 1,239 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Chubb by 17.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,651 shares of the financial services provider’s stock worth $1,244,000 after purchasing an additional 555 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Chubb by 5.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,104 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 151 shares during the last quarter. Finally, Chesley Taft & Associates LLC boosted its holdings in shares of Chubb by 1.1% in the 2nd quarter. Chesley Taft & Associates LLC now owns 103,675 shares of the financial services provider’s stock worth $35,326,000 after buying an additional 1,104 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

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.