UBS Group Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its price objective upped by equities researchers at UBS Group from $298.00 to $303.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective indicates a potential upside of 6.16% from the company’s current price.

A number of other equities analysts have also commented on CB. Wells Fargo & Company dropped their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday. Piper Sandler raised their price objective on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research report on Wednesday, March 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $302.73.

Chubb Stock Performance

Shares of CB stock traded up $10.43 during trading hours on Wednesday, reaching $285.42. 707,972 shares of the company traded hands, compared to its average volume of 1,623,502. The firm has a 50-day moving average price of $282.19 and a 200 day moving average price of $281.41. The company has a market cap of $114.28 billion, a P/E ratio of 12.54, a P/E/G ratio of 3.36 and a beta of 0.47. Chubb has a 12-month low of $238.85 and a 12-month high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

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 analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, sell-side analysts predict that Chubb will post 21.52 earnings per share for the current fiscal year.

Insider Activity

In other Chubb news, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 584,395 shares in the company, valued at approximately $170,321,922.75. This represents a 4.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Peoples Bank KS acquired a new stake in shares of Chubb in the first quarter valued at about $25,000. Continuum Advisory LLC boosted its stake in shares of Chubb by 56.5% during the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Chubb in the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new position in Chubb in the 4th quarter valued at approximately $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

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.