Chubb (NYSE:CB) Price Target Cut to $259.00 by Analysts at Morgan Stanley

Chubb (NYSE:CB) had its price objective lowered by equities research analysts at Morgan Stanley from $260.00 to $259.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 1.72% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Evercore ISI lifted their price objective on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their price objective on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $285.00 price objective on shares of Chubb in a research note on Friday, June 28th. Finally, Roth Mkm reiterated a “buy” rating and issued a $280.00 target price on shares of Chubb in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $266.65.

Chubb Price Performance

Shares of NYSE:CB traded up $1.29 during midday trading on Wednesday, hitting $254.63. The company had a trading volume of 371,327 shares, compared to its average volume of 1,649,131. Chubb has a twelve month low of $186.52 and a twelve month high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $103.40 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 6.11 and a beta of 0.66. The business’s 50-day simple moving average is $260.16 and its 200-day simple moving average is $250.44.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.41 earnings per share. On average, research analysts predict that Chubb will post 21.03 earnings per share for the current year.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $263.81, for a total value of $403,365.49. Following the transaction, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at $2,036,085.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the transaction, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock worth $12,149,985 over the last quarter. 0.86% of the stock is currently owned by insiders.

Institutional Trading of Chubb

Hedge funds and other institutional investors have recently modified their holdings of the business. Townsquare Capital LLC grew its stake in Chubb by 2.1% in the third quarter. Townsquare Capital LLC now owns 5,141 shares of the financial services provider’s stock worth $1,070,000 after purchasing an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Chubb by 1.4% in the third quarter. Integrated Wealth Concepts LLC now owns 6,949 shares of the financial services provider’s stock valued at $1,447,000 after acquiring an additional 97 shares during the period. EP Wealth Advisors LLC boosted its stake in Chubb by 52.4% in the third quarter. EP Wealth Advisors LLC now owns 3,090 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 1,063 shares during the period. Modera Wealth Management LLC boosted its position in shares of Chubb by 6.7% during the third quarter. Modera Wealth Management LLC now owns 1,456 shares of the financial services provider’s stock worth $303,000 after buying an additional 92 shares during the period. Finally, Financial Insights Inc. acquired a new position in shares of Chubb during the third quarter worth approximately $944,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

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.