Argus initiated coverage on shares of Chubb (NYSE:CB) in a report published on Friday, Marketbeat Ratings reports. The firm issued a hold rating on the financial services provider’s stock.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Chubb from a hold rating to a buy rating and set a $164.00 target price for the company in a research report on Wednesday, January 3rd. Royal Bank of Canada reiterated a buy rating and set a $170.00 target price on shares of Chubb in a research report on Wednesday, January 31st. Bank of America increased their target price on shares of Chubb from $168.00 to $171.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Wells Fargo reiterated a buy rating and set a $169.00 target price on shares of Chubb in a research report on Tuesday, January 30th. Finally, Deutsche Bank cut their target price on shares of Chubb from $149.00 to $140.00 and set a hold rating for the company in a research report on Thursday, March 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $162.92.
CB opened at $134.13 on Friday. The stock has a market cap of $62,248.53, a P/E ratio of 16.70, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. Chubb has a fifty-two week low of $131.14 and a fifty-two week high of $157.50.
Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.86. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.64 billion. Chubb had a net margin of 11.87% and a return on equity of 7.52%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.72 earnings per share. analysts predict that Chubb will post 10.26 earnings per share for the current year.
Chubb declared that its board has approved a share repurchase plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Thursday, March 29th will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.12%. Chubb’s dividend payout ratio (DPR) is currently 35.37%.
In other news, insider Juan C. Andrade sold 9,373 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total value of $1,369,020.38. Following the completion of the transaction, the insider now directly owns 110,195 shares in the company, valued at $16,095,081.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philip V. Bancroft sold 55,675 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $140.94, for a total transaction of $7,846,834.50. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Green Square Capital LLC boosted its position in shares of Chubb by 131.9% in the fourth quarter. Green Square Capital LLC now owns 6,471 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 3,681 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Chubb by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 39,554 shares of the financial services provider’s stock valued at $5,780,000 after acquiring an additional 1,646 shares during the period. Xact Kapitalforvaltning AB boosted its position in shares of Chubb by 7.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 81,597 shares of the financial services provider’s stock valued at $11,924,000 after acquiring an additional 5,506 shares during the period. Dixon Hubard Feinour & Brown Inc. VA boosted its position in shares of Chubb by 11.3% in the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,951 shares of the financial services provider’s stock valued at $1,162,000 after acquiring an additional 806 shares during the period. Finally, We Are One Seven LLC bought a new position in shares of Chubb in the fourth quarter valued at approximately $843,000. Institutional investors own 89.20% 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.
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