Chubb Ltd (NYSE:CB) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $154.60.
A number of brokerages recently issued reports on CB. Raymond James cut their target price on Chubb from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday. Zacks Investment Research cut Chubb from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. Wells Fargo & Co set a $160.00 price objective on Chubb and gave the company a “buy” rating in a research note on Friday, January 18th. Compass Point initiated coverage on Chubb in a research note on Tuesday, January 15th. They set a “buy” rating and a $165.00 price objective on the stock. Finally, Deutsche Bank dropped their price objective on Chubb from $123.00 to $121.00 and set a “sell” rating on the stock in a research note on Monday, January 7th.
Shares of CB stock traded up $1.44 during trading hours on Friday, hitting $132.01. 37,459 shares of the company were exchanged, compared to its average volume of 1,795,579. The company has a market cap of $60.52 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.21 and a beta of 0.82. Chubb has a fifty-two week low of $119.54 and a fifty-two week high of $148.58. The company has a quick ratio of 0.31, a current ratio of 0.35 and a debt-to-equity ratio of 0.24.
Chubb announced that its board has approved a share 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Michael G. Atieh sold 1,200 shares of Chubb stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $133.27, for a total transaction of $159,924.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,242 shares of company stock worth $165,544 over the last quarter. Company insiders own 0.44% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc grew its holdings in Chubb by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 37,280,448 shares of the financial services provider’s stock valued at $4,982,160,000 after buying an additional 417,887 shares in the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Chubb by 7.2% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 18,758 shares of the financial services provider’s stock valued at $2,507,000 after acquiring an additional 1,261 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Chubb by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,737,036 shares of the financial services provider’s stock valued at $900,339,000 after acquiring an additional 63,629 shares during the last quarter. Security National Bank boosted its position in shares of Chubb by 4.8% during the 3rd quarter. Security National Bank now owns 13,367 shares of the financial services provider’s stock valued at $1,786,000 after acquiring an additional 607 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Chubb by 24.3% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 27,793 shares of the financial services provider’s stock valued at $3,714,000 after acquiring an additional 5,427 shares during 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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