Chubb (NYSE:CB) Stock Rating Lowered by Bank of America

Chubb (NYSE:CB) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a report released on Friday, Marketbeat Ratings reports. They presently have a $275.00 price objective on the financial services provider’s stock, up from their previous price objective of $264.00. Bank of America‘s price target points to a potential downside of 5.36% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Morgan Stanley reduced their price target on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods increased their target price on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Roth Mkm raised their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JMP Securities upped their price target on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays assumed coverage on Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $276.79.

Chubb Stock Performance

Shares of NYSE CB opened at $290.59 on Friday. The stock’s fifty day simple moving average is $281.24 and its 200 day simple moving average is $265.82. The stock has a market capitalization of $118.00 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 5.74 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb has a 52-week low of $205.64 and a 52-week high of $294.18.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter last year, the business posted $4.92 EPS. Chubb’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb will post 21.21 earnings per share for the current fiscal year.

Insider Transactions at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chubb

A number of hedge funds have recently bought and sold shares of CB. Capital Research Global Investors boosted its position in shares of Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after acquiring an additional 2,064,730 shares during the period. Capital World Investors boosted its holdings in Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares during the period. Confluence Investment Management LLC acquired a new stake in Chubb in the 1st quarter worth $165,932,000. Lazard Asset Management LLC increased its holdings in shares of Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the period. Finally, Troy Asset Management Ltd acquired a new position in shares of Chubb during the second quarter valued at about $106,975,000. 83.81% of the stock is currently owned by institutional investors.

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.