Chubb (NYSE:CB) Lowered to Underperform at Bank of America

07 Oct 2024, 07:37 by Sarita Garza · The Markets Daily

Bank of America cut shares of Chubb (NYSE:CB – Free Report) from a neutral rating to an underperform rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has $275.00 target price on the financial services provider’s stock, up from their previous target price of $264.00.

Other equities analysts have also recently issued reports about the company. Roth Mkm lifted their price objective on Chubb from $280.00 to $300.00 and gave the company a buy rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price target on Chubb from $304.00 to $305.00 and gave the stock an outperform rating in a report on Monday, July 29th. JMP Securities boosted their price target on Chubb from $280.00 to $300.00 and gave the stock a market outperform rating in a report on Wednesday, July 24th. William Blair lowered Chubb from a market perform rating to an underperform rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Chubb from $266.00 to $286.00 and gave the stock a neutral rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $280.22.

Get Our Latest Stock Analysis on Chubb

Chubb Trading Up 0.7 %

NYSE:CB opened at $290.59 on Friday. The firm has a market capitalization of $118.00 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 5.74 and a beta of 0.66. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $281.24 and its two-hundred day moving average price is $265.87. Chubb has a 1-year low of $205.64 and a 1-year high of $294.18.

Chubb (NYSE:CB – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. The business had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.92 EPS. On average, equities analysts expect that Chubb will post 21.21 earnings per share for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. Chubb’s dividend payout ratio (DPR) is 16.16%.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors raised its holdings in Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after purchasing an additional 685,677 shares during the period. Capital Research Global Investors raised its holdings in Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Ameriprise Financial Inc. raised its holdings in Chubb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc increased its stake in Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after buying an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after buying an additional 457,881 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Company Profile

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