Chubb (NYSE:CB) Upgraded to Neutral by Bank of America

Bank of America raised the company’s shares Chubb (NYSE:CB – Free Report) from a weak to neutral rating in a report published on Thursday, Marketbeat reports. The company now has a $266.00 price target on the financial services provider’s stock, up from its prior price target of $244.00.

Several other research firms have also recently commented on CB. UBS Group increased their target price on shares of Chubb from $245.00 to $256.00 and gave the company a Neutral rating in a research note on Monday, February 5th. JPMorgan Chase & Co. increased their price target on shares of Chubb from $253.00 to $266.00 and gave the stock a Neutral rating in a report on Monday, April 8. In a report on Thursday, April 4, HSBC reissued a hold rating and set a target price on Chubb’s stock at $270.00 (up from $275.00). Royal Bank of Canada lowered their target price on Chubb from $295.00 to $285.00 and set an outperform rating for the company in a report on Thursday, April 25. Finally, Piper Sandler reissued an overweight rating and set a $282.00 price target on shares of Chubb in a research note on Monday, April 1st. Eleven investment analysts have rated the company’s shares with a hold rating, eight with a buy rating and one with a strong buy rating. According to MarketBeat.com, Chubb currently has an average rating of “Moderate Buy” and an average price target of $266.70.

Download our latest research report on CB

Chubb shares fell 1.6%

On Thursday, NYSE CB traded at $263.08. The company has a 50-day moving average of $253.60 and a 200-day moving average of $241.26. Chubb has a 1-year low of $183.71 and a 1-year high of $275.41. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $106.83 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 9.40 and a beta of 0.63.

Chubb (NYSE:CB – Get Free Report) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the company saw an EPS of $4.41. The company’s revenues increased by 14.1% compared to the same quarter last year. On average, equity research analysts expect Chubb to post 21.21 earnings per share for the current fiscal year.

Chubb increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5. Investors of record will receive a dividend of $0.91 per share on Friday, June 14. The ex-dividend date for this dividend is Friday, June 14. This represents an annual dividend of $3.64 and a yield of 1.38%. This represents an increase from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is currently 15.27%.

Insiders place their bets

In other news, VP Timothy Alan Boroughs sold 33,150 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction amount of $8,456,896.50. Following the completion of the sale, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The sale was disclosed in a legal filing with the SEC, available at this link. In other Chubb news, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the transaction, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Additionally, VP Timothy Alan Boroughs sold 33,150 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the sale, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The announcement of this sale can be found here. Over the last three months, insiders sold 145,815 shares of company stock worth $37,349,247. 0.86% of the shares are owned by corporate insiders.

Chubb Institutional Trading

Hedge funds have been buying and selling shares of the company recently. In the first quarter, Bard Financial Services Inc. increased its stake in Chubb shares by 3.7%. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 40 shares in the last quarter. Rossmore Private Capital increased its holdings in Chubb by 1.6% during the 4th quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 41 shares in the last quarter. In the first quarter, Equitable Trust Co. increased its stake in Chubb by 1.4%. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 41 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Chubb by 4.2% during the fourth quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 42 shares in the last quarter. Finally, in the first quarter, Newbridge Financial Services Group Inc. increased its stake in Chubb shares by 11.1%. Newbridge Financial Services Group Inc. now owns 422 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds hold 83.81% of the company’s shares.

Chubb company profile

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Chubb Limited offers insurance and reinsurance products worldwide. The company’s North American property and casualty segment offers commercial property, casualty, workers’ compensation, package insurance, risk management, financial lines, marine, construction, environmental, medical, cyber, surety and casualty; and group accident and health insurance for large, medium and small commercial enterprises.

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