Chubb (NYSE:CB) Given New $153.00 Price Target at Morgan Stanley

Chubb (NYSE:CB) had its price target upped by stock analysts at Morgan Stanley from $151.00 to $153.00 in a research note issued on Friday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 3.18% from the stock’s previous close.

CB has been the topic of a number of other research reports. Zacks Investment Research cut shares of Horiba from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Compass Point cut shares of Chubb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $165.00 to $156.00 in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Raymond James lifted their target price on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, July 5th. UBS Group lifted their price target on shares of Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Atlantic Securities downgraded shares of Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Chubb presently has a consensus rating of “Hold” and an average price target of $148.90.

CB opened at $148.28 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. Chubb has a fifty-two week low of $119.54 and a fifty-two week high of $152.29. The company’s fifty day moving average price is $148.95. The stock has a market cap of $67.89 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.43 and a beta of 0.72.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 30th. The financial services provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. Chubb had a net margin of 11.55% and a return on equity of 8.76%. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.55 billion. During the same quarter in the previous year, the company earned $2.34 EPS. On average, equities research analysts anticipate that Chubb will post 10.38 EPS for the current year.

In other Chubb news, CEO Evan G. Greenberg sold 215,648 shares of Chubb stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $148.84, for a total value of $32,097,048.32. Following the sale, the chief executive officer now directly owns 1,002,730 shares in the company, valued at approximately $149,246,333.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul J. Krump sold 4,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $150.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now owns 123,865 shares in the company, valued at $18,579,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 342,146 shares of company stock worth $50,781,622. 0.47% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of CB. WCM Investment Management LLC increased its holdings in shares of Chubb by 100.6% in the 1st quarter. WCM Investment Management LLC now owns 14,039,350 shares of the financial services provider’s stock worth $1,966,632,000 after buying an additional 7,040,520 shares during the last quarter. Norges Bank bought a new stake in shares of Chubb in the 4th quarter worth about $386,675,000. California Public Employees Retirement System increased its holdings in shares of Chubb by 18.0% in the 1st quarter. California Public Employees Retirement System now owns 2,697,234 shares of the financial services provider’s stock worth $377,829,000 after buying an additional 412,064 shares during the last quarter. CI Investments Inc. bought a new stake in shares of Chubb in the 4th quarter worth about $52,909,000. Finally, Thoroughbred Financial Services LLC increased its holdings in shares of Chubb by 15,106.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 397,798 shares of the financial services provider’s stock worth $39,780,000 after buying an additional 395,182 shares during the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.

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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