Chubb (NYSE:CB) had its price objective decreased by equities research analysts at Raymond James from $160.00 to $150.00 in a research report issued to clients and investors on Monday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target suggests a potential upside of 15.77% from the company’s current price.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Chubb from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Morgan Stanley lowered their target price on Chubb from $166.00 to $153.00 and set an “overweight” rating for the company in a report on Wednesday, November 14th. Deutsche Bank upped their target price on Chubb from $122.00 to $123.00 and gave the stock a “sell” rating in a report on Tuesday, December 4th. Wells Fargo & Co set a $160.00 target price on Chubb and gave the stock a “buy” rating in a report on Friday, January 18th. Finally, Citigroup lowered their target price on Chubb from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Chubb currently has a consensus rating of “Hold” and a consensus target price of $154.60.
Shares of Chubb stock traded down $0.78 during trading on Monday, reaching $129.57. 695,898 shares of the company’s stock were exchanged, compared to its average volume of 1,783,761. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.35. Chubb has a 1-year low of $119.54 and a 1-year high of $148.58. The stock has a market capitalization of $60.07 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.21 and a beta of 0.82.
Chubb announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Michael G. Atieh sold 1,200 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $133.27, for a total value of $159,924.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 1,242 shares of company stock valued at $165,544. Insiders own 0.44% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Bollard Group LLC boosted its holdings in Chubb by 6.2% in the fourth quarter. Bollard Group LLC now owns 1,290 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 75 shares in the last quarter. Meristem Family Wealth LLC boosted its holdings in Chubb by 2.9% in the third quarter. Meristem Family Wealth LLC now owns 2,766 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 79 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Chubb by 2.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,188 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 79 shares in the last quarter. Atwood & Palmer Inc. boosted its holdings in Chubb by 38.3% in the fourth quarter. Atwood & Palmer Inc. now owns 289 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 80 shares in the last quarter. Finally, Lourd Capital LLC boosted its holdings in Chubb by 3.5% in the fourth quarter. Lourd Capital LLC now owns 2,429 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 83 shares in the last quarter. 88.78% of the stock is owned by institutional investors.
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.
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