Chubb (NYSE:CB) Given New $165.00 Price Target at Wells Fargo & Co

Chubb (NYSE:CB) had its price target raised by Wells Fargo & Co from $157.00 to $165.00 in a research note issued to investors on Thursday morning, The Fly reports. The firm currently has an outperform rating on the financial services provider’s stock.

CB has been the topic of several other research reports. ValuEngine cut Intersect ENT from a buy rating to a hold rating in a report on Monday, June 3rd. Atlantic Securities cut Chubb from a neutral rating to an underweight rating and set a $135.00 target price on the stock. in a report on Thursday, June 20th. Raymond James increased their target price on Intercontinental Exchange from $89.00 to $94.00 and gave the stock an outperform rating in a report on Friday, July 5th. Sandler O’Neill upgraded Independent Bank from a hold rating to a buy rating in a report on Wednesday, April 3rd. Finally, Barclays set a $34.00 target price on DCP Midstream and gave the stock a hold rating in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $148.90.

Shares of CB stock opened at $149.37 on Thursday. The business’s fifty day simple moving average is $148.54. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $68.39 billion, a PE ratio of 15.48, a PEG ratio of 1.43 and a beta of 0.72. Chubb has a 52 week low of $119.54 and a 52 week high of $152.00.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $2.54 EPS for the quarter, topping the consensus estimate of $2.49 by $0.05. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.55 billion. Chubb had a return on equity of 8.76% and a net margin of 11.55%. During the same quarter in the prior year, the business earned $2.34 earnings per share. Equities research analysts forecast that Chubb will post 10.42 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 21st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, June 20th. This is a positive change from Chubb’s previous quarterly dividend of $0.73. Chubb’s dividend payout ratio is 31.78%.

In other Chubb news, CEO Evan G. Greenberg sold 215,648 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total value of $32,097,048.32. Following the transaction, the chief executive officer now owns 1,002,730 shares of the company’s stock, valued at $149,246,333.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul J. Krump sold 3,450 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $145.00, for a total value of $500,250.00. Following the completion of the transaction, the insider now directly owns 139,160 shares in the company, valued at approximately $20,178,200. The disclosure for this sale can be found here. Insiders have sold 342,146 shares of company stock worth $50,781,622 in the last ninety days. 0.47% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Comerica Securities Inc. raised its position in Chubb by 45.3% in the 4th quarter. Comerica Securities Inc. now owns 7,343 shares of the financial services provider’s stock valued at $953,000 after purchasing an additional 2,290 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Chubb by 10.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,012 shares of the financial services provider’s stock worth $390,000 after buying an additional 280 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Chubb by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,095,870 shares of the financial services provider’s stock worth $270,734,000 after buying an additional 21,037 shares during the last quarter. Brown Advisory Inc. raised its position in Chubb by 0.8% during the 4th quarter. Brown Advisory Inc. now owns 80,599 shares of the financial services provider’s stock worth $10,413,000 after buying an additional 637 shares during the last quarter. Finally, Magnus Financial Group LLC purchased a new position in Chubb during the 4th quarter worth $209,000. 89.00% of the stock is currently owned by hedge funds and other institutional investors.

About Chubb

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

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