Credit Suisse Group Reaffirms Neutral Rating for Chubb (CB)

Credit Suisse Group reaffirmed their neutral rating on shares of Chubb (NYSE:CB) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have a $156.00 price target on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Goldman Sachs Group began coverage on Chubb in a research note on Monday, December 4th. They set a buy rating and a $167.00 target price for the company. Wells Fargo & Company set a $169.00 target price on Chubb and gave the stock a buy rating in a research report on Wednesday, November 29th. J P Morgan Chase & Co raised Chubb from a neutral rating to an overweight rating in a research report on Wednesday, November 8th. Zacks Investment Research raised Chubb from a sell rating to a hold rating in a research report on Friday, November 3rd. Finally, UBS increased their target price on Chubb from $160.00 to $169.00 and gave the stock a buy rating in a research report on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $161.09.

Chubb (CB) opened at $145.20 on Tuesday. Chubb has a one year low of $127.15 and a one year high of $156.00. The firm has a market cap of $67,316.83, a PE ratio of 17.41, a P/E/G ratio of 2.04 and a beta of 0.96. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23.

Chubb (NYSE:CB) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.11. The company had revenue of $7.36 billion during the quarter, compared to the consensus estimate of $7.14 billion. Chubb had a net margin of 12.15% and a return on equity of 7.22%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 EPS. equities analysts expect that Chubb will post 7.1 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has authorized a stock buyback program on Thursday, December 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, December 28th. Chubb’s dividend payout ratio (DPR) is currently 34.05%.

In other Chubb news, insider John J. Lupica sold 16,674 shares of Chubb stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $152.02, for a total value of $2,534,781.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Bennett Medini sold 5,180 shares of Chubb stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $150.48, for a total value of $779,486.40. Following the completion of the transaction, the insider now owns 91,775 shares of the company’s stock, valued at approximately $13,810,302. The disclosure for this sale can be found here. Insiders have sold a total of 164,956 shares of company stock worth $24,417,316 in the last three months. 0.43% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CB. Vanguard Group Inc. grew its stake in Chubb by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,320,686 shares of the financial services provider’s stock valued at $5,134,923,000 after acquiring an additional 838,652 shares during the period. BlackRock Inc. raised its stake in Chubb by 1.4% in the second quarter. BlackRock Inc. now owns 29,312,701 shares of the financial services provider’s stock valued at $4,261,481,000 after buying an additional 409,574 shares during the period. WCM Investment Management CA raised its stake in Chubb by 105.1% in the third quarter. WCM Investment Management CA now owns 11,137,460 shares of the financial services provider’s stock valued at $1,587,644,000 after buying an additional 5,707,734 shares during the period. Boston Partners raised its stake in Chubb by 2.4% in the second quarter. Boston Partners now owns 5,705,497 shares of the financial services provider’s stock valued at $829,465,000 after buying an additional 131,832 shares during the period. Finally, American Century Companies Inc. raised its stake in Chubb by 6.0% in the third quarter. American Century Companies Inc. now owns 3,963,751 shares of the financial services provider’s stock valued at $565,033,000 after buying an additional 225,475 shares during the period. Institutional investors and hedge funds own 88.18% of the company’s stock.

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About Chubb

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

Analyst Recommendations for Chubb (NYSE:CB)

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