Shares of Chubb Ltd (NYSE:CB) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $152.70.
Several brokerages have recently issued reports on CB. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Credit Suisse Group lowered Chubb from a “neutral” rating to an “underperform” rating and cut their price target for the company from $141.00 to $131.00 in a research note on Wednesday, February 27th. Raymond James cut their price target on Chubb from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, February 11th. Compass Point began coverage on Chubb in a research note on Tuesday, January 15th. They set a “buy” rating and a $165.00 price target on the stock. Finally, Deutsche Bank upped their price target on Chubb from $122.00 to $123.00 and gave the company a “sell” rating in a research note on Tuesday, December 4th.
Get Chubb alerts:In related news, insider Paul Bennett Medini sold 2,437 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $133.94, for a total value of $326,411.78. Following the completion of the sale, the insider now owns 95,101 shares in the company, valued at $12,737,827.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.44% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CB. Cornerstone Wealth Management LLC increased its holdings in shares of Chubb by 6.5% in the third quarter. Cornerstone Wealth Management LLC now owns 32,476 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 1,996 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Chubb by 274.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,821 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 5,000 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Chubb by 15.0% in the third quarter. Synovus Financial Corp now owns 15,236 shares of the financial services provider’s stock worth $2,035,000 after acquiring an additional 1,993 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Chubb by 6.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 13,250 shares of the financial services provider’s stock worth $1,771,000 after acquiring an additional 859 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Chubb by 6.4% in the third quarter. Daiwa Securities Group Inc. now owns 19,186 shares of the financial services provider’s stock worth $2,564,000 after acquiring an additional 1,157 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.
Chubb stock opened at $133.54 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $61.98 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. Chubb has a 52 week low of $119.54 and a 52 week high of $145.08.
Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 5th. The financial services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.09. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.80 billion. Chubb had a return on equity of 8.66% and a net margin of 11.72%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.17 earnings per share. Research analysts anticipate that Chubb will post 10.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, March 21st. Chubb’s dividend payout ratio (DPR) is presently 30.93%.
Chubb announced that its board has approved a share repurchase plan on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
About Chubb
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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