Keefe, Bruyette & Woods Cuts Chubb (NYSE:CB) Price Target to $316.00

Chubb (NYSE:CB) had its price target trimmed by Keefe, Bruyette & Woods from $329.00 to $316.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

CB has been the subject of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays decreased their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chubb has an average rating of “Hold” and an average price target of $303.67.

Chubb Stock Performance

Shares of CB opened at $283.30 on Wednesday. Chubb has a 52 week low of $238.85 and a 52 week high of $306.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The company has a market capitalization of $113.44 billion, a PE ratio of 12.47, a PEG ratio of 3.36 and a beta of 0.47. The company’s 50 day moving average price is $283.03 and its 200 day moving average price is $281.28.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Research analysts expect that Chubb will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s dividend payout ratio is 16.02%.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 25,728 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now owns 584,395 shares in the company, valued at $170,321,922.75. This trade represents a 4.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chubb

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zacks Investment Management bought a new position in shares of Chubb in the third quarter worth about $213,000. MML Investors Services LLC increased its holdings in shares of Chubb by 37.4% in the third quarter. MML Investors Services LLC now owns 47,716 shares of the financial services provider’s stock valued at $13,761,000 after purchasing an additional 12,997 shares in the last quarter. Continuum Advisory LLC raised its position in Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares during the last quarter. Barclays PLC lifted its holdings in Chubb by 28.1% during the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after buying an additional 388,746 shares in the last quarter. Finally, Brophy Wealth Management LLC bought a new position in Chubb in the 3rd quarter valued at $274,000. 83.81% of the stock is owned by institutional investors and hedge funds.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.