Morgan Stanley Boosts Chubb (NYSE:CB) Price Target to $260.00

Chubb (NYSE:CB) had its price target increased by equities research analysts at Morgan Stanley from $258.00 to $260.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 5.74% from the stock’s current price.

CB has been the subject of a number of other research reports. StockNews.com raised shares of Chubb from a “hold” rating to a “buy” rating in a research report on Saturday, March 30th. Roth Mkm increased their target price on shares of Chubb from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group increased their target price on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company increased their target price on shares of Chubb from $234.00 to $255.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada increased their target price on shares of Chubb from $255.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.37.

Chubb Stock Up 0.0 %

Shares of CB traded up $0.07 during mid-day trading on Monday, hitting $245.88. The company’s stock had a trading volume of 506,941 shares, compared to its average volume of 1,711,019. The company’s 50-day moving average is $252.64 and its 200-day moving average is $233.25. Chubb has a 52-week low of $183.71 and a 52-week high of $260.58. The firm has a market capitalization of $99.82 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.16 and a beta of 0.62. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share for the quarter, topping the consensus estimate of $5.07 by $3.23. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The firm had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $12.88 billion. On average, equities research analysts forecast that Chubb will post 21.15 EPS for the current fiscal year.

Insider Activity at Chubb

In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the sale, the executive vice president now owns 50,486 shares in the company, valued at $12,879,483.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the transaction, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 33,150 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the transaction, the executive vice president now directly owns 50,486 shares in the company, valued at $12,879,483.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,043 shares of company stock worth $29,766,694. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chubb

Several hedge funds and other institutional investors have recently modified their holdings of CB. Deutsche Bank AG lifted its stake in shares of Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Chubb by 102,751.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock worth $1,828,733,000 after purchasing an additional 8,281,754 shares during the period. Norges Bank purchased a new position in Chubb during the fourth quarter worth about $957,756,000. 1832 Asset Management L.P. raised its stake in Chubb by 1,476.9% during the fourth quarter. 1832 Asset Management L.P. now owns 999,392 shares of the financial services provider’s stock worth $220,466,000 after purchasing an additional 936,015 shares during the period. Finally, Legal & General Group Plc raised its stake in Chubb by 25.0% during the fourth quarter. Legal & General Group Plc now owns 3,597,558 shares of the financial services provider’s stock worth $813,049,000 after purchasing an additional 718,535 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Company Profile

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.