Morgan Stanley Cuts Chubb (NYSE:CB) Price Target to $216.00

Chubb (NYSE:CBGet Rating) had its price target decreased by Morgan Stanley from $224.00 to $216.00 in a report published on Monday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other research firms have also weighed in on CB. Barclays reduced their price objective on shares of Chubb from $250.00 to $249.00 and set an overweight rating for the company in a research note on Friday, May 20th. Argus lifted their price objective on shares of Chubb from $210.00 to $230.00 in a research note on Thursday, February 10th. Raymond James lifted their price objective on shares of Chubb from $240.00 to $250.00 in a research note on Thursday, April 28th. Royal Bank of Canada boosted their price target on shares of Chubb from $230.00 to $239.00 and gave the company an outperform rating in a research report on Monday, April 4th. Finally, Wells Fargo & Company boosted their price target on shares of Chubb from $230.00 to $240.00 and gave the company an overweight rating in a research report on Tuesday, April 12th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $220.44.

Shares of CB stock opened at $207.98 on Monday. The company has a 50 day moving average of $210.47 and a 200-day moving average of $201.21. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. Chubb has a 12-month low of $155.78 and a 12-month high of $218.99. The firm has a market cap of $88.12 billion, a P/E ratio of 11.07, a PEG ratio of 1.37 and a beta of 0.73.

Chubb (NYSE:CBGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.34. Chubb had a net margin of 19.65% and a return on equity of 10.30%. During the same quarter last year, the company posted $2.52 earnings per share. As a group, equities analysts expect that Chubb will post 14.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be issued a dividend of $0.83 per share. This is an increase from Chubb’s previous quarterly dividend of $0.80. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, June 16th. Chubb’s payout ratio is currently 17.04%.

Chubb announced that its board has authorized a stock repurchase program on Thursday, May 19th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other Chubb news, Director Theodore Shasta sold 461 shares of the business’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $204.88, for a total value of $94,449.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Alan Boroughs sold 15,933 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $211.83, for a total transaction of $3,375,087.39. Following the completion of the transaction, the executive vice president now owns 65,667 shares in the company, valued at approximately $13,910,240.61. The disclosure for this sale can be found here. Insiders sold 68,592 shares of company stock valued at $14,342,393 over the last three months. 0.39% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in shares of Chubb by 75.6% in the first quarter. EverSource Wealth Advisors LLC now owns 3,565 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 1,535 shares during the period. First National Bank of Omaha increased its position in shares of Chubb by 18.3% in the first quarter. First National Bank of Omaha now owns 43,747 shares of the financial services provider’s stock valued at $9,358,000 after acquiring an additional 6,753 shares during the period. M Holdings Securities Inc. purchased a new position in shares of Chubb in the first quarter valued at about $574,000. Advisory Services Network LLC increased its position in shares of Chubb by 22.6% in the first quarter. Advisory Services Network LLC now owns 28,042 shares of the financial services provider’s stock valued at $5,998,000 after acquiring an additional 5,169 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Chubb by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 750,103 shares of the financial services provider’s stock valued at $160,575,000 after acquiring an additional 58,844 shares during the period. Hedge funds and other institutional investors own 88.86% of the company’s stock.

Chubb Company Profile (Get Rating)

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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