Chubb (CB) Price Target Lowered to $150.00 at Citigroup

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Chubb (NYSE:CB) had its price target dropped by stock analysts at Citigroup from $157.00 to $150.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective would indicate a potential upside of 18.81% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank downgraded Chubb from a “hold” rating to a “sell” rating and cut their price objective for the company from $135.00 to $126.00 in a research report on Monday, August 13th. Atlantic Securities upgraded Chubb from an “underweight” rating to a “neutral” rating in a research report on Wednesday, June 27th. ValuEngine upgraded Chubb from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Wells Fargo & Co reiterated a “buy” rating and set a $169.00 price objective on shares of Chubb in a research report on Tuesday, July 24th. Finally, Barclays cut their price objective on Chubb from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, July 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $159.45.

Shares of NYSE CB opened at $126.25 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $61.91 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.28 and a beta of 1.01. Chubb has a 1 year low of $123.23 and a 1 year high of $157.50.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.06. Chubb had a return on equity of 7.41% and a net margin of 11.53%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.30 billion. During the same period last year, the company posted $2.50 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Chubb will post 10.41 earnings per share for the current year.

In other news, insider Timothy Alan Boroughs sold 14,971 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $139.37, for a total value of $2,086,508.27. Following the completion of the sale, the insider now owns 202,794 shares in the company, valued at $28,263,399.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 227,994 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total value of $31,985,278.26. Following the completion of the sale, the chief executive officer now owns 1,583,326 shares of the company’s stock, valued at approximately $222,124,804.54. The disclosure for this sale can be found here. Insiders sold 243,093 shares of company stock valued at $34,089,733 in the last 90 days. Corporate insiders own 0.44% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CB. Massachusetts Financial Services Co. MA raised its holdings in shares of Chubb by 3.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,848,022 shares of the financial services provider’s stock worth $1,758,976,000 after acquiring an additional 488,028 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Chubb by 1.8% during the second quarter. Bank of America Corp DE now owns 10,153,074 shares of the financial services provider’s stock worth $1,289,643,000 after acquiring an additional 175,841 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Chubb by 12.3% during the second quarter. American Century Companies Inc. now owns 4,610,946 shares of the financial services provider’s stock worth $585,682,000 after acquiring an additional 504,768 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Chubb by 0.6% during the second quarter. Bessemer Group Inc. now owns 1,850,787 shares of the financial services provider’s stock worth $235,088,000 after acquiring an additional 11,604 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Chubb by 2.7% during the second quarter. Swiss National Bank now owns 1,742,420 shares of the financial services provider’s stock worth $221,322,000 after acquiring an additional 45,900 shares in the last quarter. Institutional investors own 85.75% of the company’s stock.

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.

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