Chubb (NYSE:CB) had its target price increased by equities research analysts at Barclays from $169.00 to $175.00 in a research report issued to clients and investors on Tuesday, February 20th. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays’ price objective would indicate a potential upside of 24.33% from the company’s previous close.
A number of other research analysts also recently weighed in on CB. Keefe, Bruyette & Woods reissued a “buy” rating and set a $153.00 target price on shares of Chubb in a research report on Sunday, October 29th. Zacks Investment Research raised shares of Chubb from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. UBS Group raised their price objective on shares of Chubb from $160.00 to $169.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Bank of America raised their price objective on shares of Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Citigroup raised their price objective on shares of Chubb from $167.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $165.25.
Chubb (NYSE CB) traded down $1.18 during trading on Tuesday, hitting $140.76. 1,353,976 shares of the stock were exchanged, compared to its average volume of 1,820,507. Chubb has a 1 year low of $133.82 and a 1 year high of $157.50. The company has a market cap of $65,330.00, a P/E ratio of 15.96, a P/E/G ratio of 1.33 and a beta of 1.01. 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 announced that its board has initiated a stock buyback program on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Chubb news, CEO Evan G. Greenberg sold 95,761 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were 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 directly owns 1,367,229 shares in the company, valued at approximately $199,013,853.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Juan C. Andrade sold 9,373 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $146.06, for a total transaction of $1,369,020.38. Following the completion of the sale, the insider now owns 110,195 shares in the company, valued at $16,095,081.70. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new stake in shares of Chubb during the 4th quarter valued at $103,000. Welch Group LLC purchased a new stake in shares of Chubb during the 4th quarter valued at $110,000. Focused Wealth Management Inc purchased a new stake in shares of Chubb during the 4th quarter valued at $117,000. Horan Capital Advisors LLC. purchased a new stake in shares of Chubb during the 3rd quarter valued at $133,000. Finally, Covenant Multifamily Offices LLC purchased a new stake in shares of Chubb during the 4th quarter valued at $135,000. Hedge funds and other institutional investors own 89.16% of the company’s stock.
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.
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