Chubb (CB) Stock Rating Reaffirmed by Wells Fargo & Co

Chubb (NYSE:CB)‘s stock had its “buy” rating restated by equities researchers at Wells Fargo & Co in a note issued to investors on Monday. They currently have a $160.00 target price on the financial services provider’s stock. Wells Fargo & Co’s target price suggests a potential upside of 19.84% from the company’s previous close.

Several other equities research analysts also recently issued reports on CB. Credit Suisse Group started coverage on shares of Chubb in a research report on Tuesday, August 7th. They set a “neutral” rating and a $150.00 price objective for the company. Deutsche Bank downgraded shares of Chubb from a “hold” rating to a “sell” rating and cut their price objective for the stock from $135.00 to $126.00 in a research report on Monday, August 13th. ValuEngine downgraded shares of Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Zacks Investment Research downgraded shares of Chubb from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Finally, Citigroup cut their price objective on shares of Chubb from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $157.10.

NYSE:CB traded down $0.23 during mid-day trading on Monday, hitting $133.51. The stock had a trading volume of 1,891,700 shares, compared to its average volume of 1,691,381. Chubb has a twelve month low of $120.50 and a twelve month high of $157.50. The company has a market capitalization of $61.63 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.39 by $0.02. Chubb had a net margin of 15.37% and a return on equity of 9.71%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.63 billion. During the same period last year, the business posted ($0.13) EPS. Chubb’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts forecast that Chubb will post 9.98 earnings per share for the current year.

Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, November 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

In other news, Director Michael G. Atieh sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $133.27, for a total transaction of $159,924.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 227,994 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the transaction, the chief executive officer now directly owns 1,583,326 shares in the company, valued at $222,124,804.54. The disclosure for this sale can be found here. Insiders have sold 244,207 shares of company stock worth $34,237,330 over the last ninety days. Insiders own 0.44% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new position in Chubb in the second quarter valued at approximately $240,000. Dupont Capital Management Corp increased its stake in Chubb by 82.4% in the second quarter. Dupont Capital Management Corp now owns 5,694 shares of the financial services provider’s stock valued at $723,000 after acquiring an additional 2,573 shares during the last quarter. Bainco International Investors increased its stake in Chubb by 0.7% in the second quarter. Bainco International Investors now owns 73,032 shares of the financial services provider’s stock valued at $9,286,000 after acquiring an additional 480 shares during the last quarter. First Trust Advisors LP increased its stake in Chubb by 2.6% in the second quarter. First Trust Advisors LP now owns 295,796 shares of the financial services provider’s stock valued at $37,572,000 after acquiring an additional 7,469 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its stake in Chubb by 49.9% in the second quarter. IndexIQ Advisors LLC now owns 47,605 shares of the financial services provider’s stock valued at $6,047,000 after acquiring an additional 15,848 shares during the last quarter. 87.61% of the stock is currently owned by institutional investors.

Chubb Company Profile

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

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Analyst Recommendations for Chubb (NYSE:CB)

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