Morgan Stanley Raises Chubb (NYSE:CB) Price Target to $153.00

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Chubb (NYSE:CB) had its price objective boosted by Morgan Stanley from $151.00 to $153.00 in a research note published on Friday, BenzingaRatingsTable reports. They currently have an equal weight rating on the financial services provider’s stock.

CB has been the topic of a number of other reports. ValuEngine cut Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Barclays set a $34.00 price target on DCP Midstream and gave the company a hold rating in a research report on Wednesday, May 22nd. Compass Point cut Chubb from a buy rating to a neutral rating and lowered their price target for the company from $165.00 to $156.00 in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Sandler O’Neill upgraded Independent Bank from a hold rating to a buy rating in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Co set a $33.00 price target on Matador Resources and gave the company a hold rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $148.90.

CB opened at $147.79 on Friday. The company’s 50 day moving average price is $149.08. Chubb has a 1 year low of $119.54 and a 1 year high of $152.29. The company has a market capitalization of $67.89 billion, a PE ratio of 15.66, a PEG ratio of 1.43 and a beta of 0.73. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. Chubb had a return on equity of 8.76% and a net margin of 11.55%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.55 billion. During the same period in the prior year, the business posted $2.34 earnings per share. Analysts anticipate that Chubb will post 10.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 21st were paid a $0.75 dividend. The ex-dividend date was Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Chubb’s previous quarterly dividend of $0.73. Chubb’s payout ratio is currently 31.78%.

In other Chubb news, insider Paul J. Krump sold 3,450 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $145.00, for a total value of $500,250.00. Following the transaction, the insider now owns 139,160 shares of the company’s stock, valued at $20,178,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul J. Krump sold 4,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $150.00, for a total value of $600,000.00. Following the completion of the transaction, the insider now directly owns 123,865 shares in the company, valued at approximately $18,579,750. The disclosure for this sale can be found here. In the last three months, insiders sold 342,146 shares of company stock worth $50,781,622. Insiders own 0.47% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CB. Comerica Securities Inc. boosted its position in Chubb by 45.3% during the 4th quarter. Comerica Securities Inc. now owns 7,343 shares of the financial services provider’s stock worth $953,000 after acquiring an additional 2,290 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Chubb by 10.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 3,012 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 280 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chubb by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,095,870 shares of the financial services provider’s stock worth $270,734,000 after purchasing an additional 21,037 shares during the last quarter. Geode Capital Management LLC increased its position in Chubb by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 5,631,484 shares of the financial services provider’s stock worth $726,121,000 after buying an additional 383,344 shares during the period. Finally, Squarepoint Ops LLC increased its position in Chubb by 20.9% in the 4th quarter. Squarepoint Ops LLC now owns 7,200 shares of the financial services provider’s stock worth $930,000 after buying an additional 1,246 shares during the period. 88.97% of the stock is currently owned by institutional investors.

About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Analyst Recommendations for Chubb (NYSE:CB)

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