Wells Fargo & Company Issues Positive Forecast for Chubb (NYSE:CB) Stock Price

by · The Cerbat Gem

Chubb (NYSE:CB – Free Report) had its target price upped by Wells Fargo & Company from $266.00 to $268.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on CB. Bank of America boosted their price objective on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler boosted their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $287.37.

View Our Latest Analysis on CB

Chubb Price Performance

CB stock opened at $281.40 on Tuesday. The business has a 50 day moving average price of $288.13 and a 200 day moving average price of $271.73. The stock has a market cap of $113.43 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 6.49 and a beta of 0.67. Chubb has a fifty-two week low of $216.26 and a fifty-two week high of $302.05. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.95 earnings per share. Equities research analysts anticipate that Chubb will post 21.6 earnings per share for the current fiscal year.

Insider Activity

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the firm’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 transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Chubb news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now owns 39,172 shares in the company, valued at $11,261,558.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the 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 transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC acquired a new position in Chubb during the 2nd quarter valued at about $963,000. Edgestream Partners L.P. acquired a new position in Chubb during the 1st quarter valued at about $984,000. Leuthold Group LLC acquired a new position in Chubb during the 1st quarter valued at about $3,033,000. Moloney Securities Asset Management LLC increased its stake in Chubb by 97.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock valued at $1,111,000 after buying an additional 1,905 shares during the period. Finally, Private Advisor Group LLC increased its stake in Chubb by 21.2% during the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after buying an additional 2,250 shares during the period. 83.81% of the stock is currently owned by institutional investors.

About Chubb

(Get Free Report)

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.

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