Credit Suisse Group Reaffirms Neutral Rating for Chubb (CB)

Credit Suisse Group restated their neutral rating on shares of Chubb (NYSE:CB) in a report released on Tuesday, December 19th, MarketBeat Ratings reports. The brokerage currently has a $156.00 price target on the financial services provider’s stock.

A number of other brokerages have also weighed in on CB. Keefe, Bruyette & Woods restated a buy rating and issued a $153.00 price objective on shares of Chubb in a report on Sunday, October 29th. UBS Group decreased their price objective on Chubb from $161.00 to $160.00 and set a buy rating on the stock in a report on Tuesday, September 19th. Zacks Investment Research lowered Chubb from a hold rating to a sell rating in a report on Monday, October 2nd. ValuEngine lowered Chubb from a buy rating to a hold rating in a report on Tuesday, October 10th. Finally, Citigroup lifted their price target on Chubb from $167.00 to $173.00 and gave the stock a neutral rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Chubb presently has an average rating of Buy and an average target price of $161.33.

Shares of Chubb (NYSE:CB) traded down $0.76 during trading on Tuesday, hitting $144.50. 1,430,000 shares of the company traded hands, compared to its average volume of 1,590,000. The stock has a market cap of $67,080.00, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.36 and a beta of 0.96. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb has a 52-week low of $127.15 and a 52-week high of $156.00.

Chubb (NYSE:CB) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.11. The business had revenue of $7.36 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Chubb had a negative net margin of 0.81% and a negative return on equity of 0.56%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $2.88 EPS. analysts anticipate that Chubb will post 7.22 EPS for the current year.

Chubb declared that its Board of Directors has approved a share buyback program on Thursday, December 21st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, December 28th. Chubb’s dividend payout ratio is presently 34.05%.

In related news, insider Timothy Alan Boroughs sold 18,611 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the completion of the sale, the insider now owns 201,165 shares in the company, valued at $30,420,171.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 95,761 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value of $13,938,971.16. Following the sale, the chief executive officer now owns 1,367,229 shares of the company’s stock, valued at approximately $199,013,853.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,956 shares of company stock valued at $24,417,316. Corporate insiders own 0.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Partners LLC increased its holdings in shares of Chubb by 10.4% in the second quarter. Advisor Partners LLC now owns 8,973 shares of the financial services provider’s stock valued at $1,304,000 after purchasing an additional 846 shares during the period. MV Capital Management Inc. grew its holdings in Chubb by 6.5% during the second quarter. MV Capital Management Inc. now owns 2,897 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 178 shares during the period. Legacy Capital Partners Inc. grew its holdings in Chubb by 1.6% during the second quarter. Legacy Capital Partners Inc. now owns 24,502 shares of the financial services provider’s stock worth $3,562,000 after acquiring an additional 375 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Chubb during the second quarter worth $185,000. Finally, Summit Financial Group Inc. acquired a new position in Chubb during the second quarter worth $332,000. Institutional investors own 88.17% of the company’s stock.

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Chubb Company Profile

Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.

Analyst Recommendations for Chubb (NYSE:CB)

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