Piper Sandler Increases Chubb (NYSE:CB) Price Target to $328.00

Chubb (NYSE:CB) had its target price hoisted by equities research analysts at Piper Sandler from $319.00 to $328.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 0.50% from the stock’s previous close.

A number of other research firms have also commented on CB. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup increased their price objective on Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. HSBC boosted their target price on Chubb from $362.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company set a $333.00 price target on Chubb in a report on Thursday. Finally, Bank of America cut their price objective on Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $348.71.

Chubb Trading Down 0.9%

Shares of Chubb stock opened at $326.38 on Wednesday. The company’s 50-day moving average price is $329.12 and its 200-day moving average price is $309.37. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb has a 12-month low of $264.10 and a 12-month high of $345.67. The company has a market cap of $127.36 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.75 and a beta of 0.49.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $6.82 EPS for the quarter, beating the consensus estimate of $6.58 by $0.24. The company had revenue of $14.93 billion during the quarter, compared to analysts’ expectations of $13.51 billion. Chubb had a net margin of 18.58% and a return on equity of 14.42%. During the same quarter in the previous year, the company earned $3.68 earnings per share. On average, equities analysts expect that Chubb will post 26.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the transaction, the chief executive officer directly owned 511,576 shares in the company, valued at $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 44,877 shares of company stock valued at $14,885,226 over the last three months. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Chubb

A number of large investors have recently bought and sold shares of the stock. CBIZ Investment Advisory Services LLC boosted its stake in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Merkkuri Wealth Advisors LLC purchased a new position in shares of Chubb in the first quarter worth $29,000. Harbor Capital Advisors Inc. raised its holdings in Chubb by 93.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after buying an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC raised its holdings in Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in Chubb during the 4th quarter valued at $31,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb News Summary

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Q1 operating beat — Chubb reported core operating income and EPS that topped consensus, with consolidated net premiums written up ~10.7%, strong P&C underwriting income and a reported P&C combined ratio of ~84.0%, supporting underlying profitability. Chubb press release
• Positive Sentiment: Underwriting & earnings strength highlighted by analysts and coverage pieces noting improved underwriting income, life investment income and revenue beats — supporting medium-term earnings power. Zacks: CB Q1 Earnings & Revenues Beat
• Positive Sentiment: Some brokers raised targets — Barclays nudged its PT to $375 and Citizens JMP raised its target to $365, signaling that a number of analysts still see upside from current levels. Barclays price-target note
• Neutral Sentiment: Earnings-call and transcript coverage are available for investor review — useful for parsing management’s forward commentary on pricing and exposure but not immediate market-moving facts by themselves. Seeking Alpha: Q1 call transcript TipRanks: earnings-call highlights
• Negative Sentiment: Investor concern over softening property-insurance market — CNBC and other coverage emphasize management comments and market signals that coverage rates are easing, competition is increasing and pricing momentum could slow, which is why the stock fell despite the headline beats. CNBC: Here’s why the stock is falling
• Negative Sentiment: GAAP noise and realized losses — some reports note a GAAP EPS miss driven by higher realized losses, which clouds the headline operating beat and raises near-term earnings volatility concerns. Seeking Alpha: GAAP EPS miss
• Negative Sentiment: Mixed analyst signals — Cantor Fitzgerald reaffirmed a neutral rating with a sub-current price target (~$315), adding to short-term pressure from differing sell?side views. Benzinga: Cantor Fitzgerald note

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.