Chubb (NYSE:CB) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a report released on Thursday, May 23rd, MarketBeat reports. They currently have a $154.00 price target on the financial services provider’s stock, up from their previous price target of $146.00. UBS Group’s price objective indicates a potential upside of 2.49% from the stock’s current price.
A number of other research firms have also commented on CB. Zacks Investment Research raised Chubb from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Barclays lifted their target price on Chubb from $160.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Wells Fargo & Co restated a “buy” rating and set a $157.00 price objective on shares of Chubb in a report on Tuesday, April 30th. Sandler O’Neill downgraded Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Credit Suisse Group downgraded Chubb from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $141.00 to $131.00 in a report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $150.10.
NYSE CB traded up $1.42 on Thursday, hitting $150.26. 1,161,200 shares of the company were exchanged, compared to its average volume of 1,474,177. The company has a market cap of $68.39 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.41 and a beta of 0.76. Chubb has a 1-year low of $119.54 and a 1-year high of $150.53. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.
In other Chubb news, insider Paul J. Krump sold 3,450 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.00, for a total value of $500,250.00. Following the completion of the sale, the insider now owns 139,160 shares in the company, valued at approximately $20,178,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul J. Krump sold 4,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $150.00, for a total value of $600,000.00. Following the completion of the transaction, the insider now directly owns 123,865 shares of the company’s stock, valued at approximately $18,579,750. The disclosure for this sale can be found here. Insiders have sold a total of 126,498 shares of company stock worth $18,684,573 in the last ninety days. Insiders own 0.47% of the company’s stock.
Several large investors have recently made changes to their positions in CB. Deutsche Bank AG boosted its holdings in shares of Chubb by 28.5% in the fourth quarter. Deutsche Bank AG now owns 1,006,879 shares of the financial services provider’s stock valued at $130,059,000 after purchasing an additional 223,100 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Chubb by 3.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,205,421 shares of the financial services provider’s stock worth $869,256,000 after buying an additional 203,528 shares during the last quarter. Strategic Advisors LLC increased its holdings in shares of Chubb by 47.7% during the 1st quarter. Strategic Advisors LLC now owns 2,936 shares of the financial services provider’s stock worth $411,000 after buying an additional 948 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Chubb by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 37,280,448 shares of the financial services provider’s stock worth $4,982,160,000 after buying an additional 417,887 shares during the last quarter. Finally, Connable Office Inc. acquired a new stake in shares of Chubb during the 1st quarter worth approximately $1,192,000. 89.04% of the stock is owned by hedge funds and other institutional investors.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional 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 in the United States, Canada, and Bermuda.
Further Reading: Purposes and Functions of the Federal Reserve
Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.