JPMorgan Chase & Co. Raises Chubb (NYSE:CB) Price Target to $370.00

Chubb (NYSE:CB) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $340.00 to $370.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 4.69% from the stock’s current price.

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a research report on Monday, March 23rd. Piper Sandler raised their price target on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group lifted their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and boosted their price objective for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Two 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 given a Sell rating to the company. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus target price of $359.09.

Chubb Price Performance

Shares of CB stock traded up $1.26 during trading hours on Monday, hitting $353.43. The company’s stock had a trading volume of 162,681 shares, compared to its average volume of 1,710,510. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $332.32 and a 200-day moving average of $325.76. Chubb has a twelve month low of $264.10 and a twelve month high of $365.29. The stock has a market cap of $137.08 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.82 and a beta of 0.40.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, equities research analysts anticipate that Chubb will post 26.75 EPS for the current year.

Insider Buying and Selling at Chubb

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

Hedge Funds Weigh In On Chubb

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Chubb in the 4th quarter worth about $205,000. Woodline Partners LP lifted its stake in shares of Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after purchasing an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Chubb by 14.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 175 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after purchasing an additional 17,155 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Company Profile

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.