TheStreet downgraded shares of Chubb (NYSE:CB) from a b rating to a c+ rating in a report issued on Monday morning, TheStreetRatingsTable reports.
Other research analysts also recently issued reports about the stock. Atlantic Securities raised shares of Chubb from an underweight rating to a neutral rating and set a $130.00 price target on the stock in a research note on Tuesday. Piper Sandler decreased their price target on shares of Chubb from $163.00 to $145.00 and set a neutral rating on the stock in a research note on Wednesday, March 11th. Citigroup initiated coverage on shares of Chubb in a research note on Tuesday, January 21st. They issued a neutral rating and a $154.00 target price on the stock. Morgan Stanley lifted their target price on shares of Chubb from $157.00 to $168.00 and gave the stock an equal weight rating in a research note on Thursday, February 6th. Finally, Goldman Sachs Group downgraded shares of Chubb from a neutral rating to a sell rating and decreased their target price for the stock from $159.00 to $147.00 in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $159.85.
Shares of CB stock traded up $7.42 during trading hours on Monday, hitting $109.22. 4,031,291 shares of the company’s stock were exchanged, compared to its average volume of 2,396,850. The company has a market capitalization of $46.48 billion, a PE ratio of 11.26, a PEG ratio of 0.94 and a beta of 0.63. Chubb has a 12-month low of $87.35 and a 12-month high of $167.74. The business’s 50 day simple moving average is $142.09 and its 200-day simple moving average is $151.12. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, March 19th. Chubb’s payout ratio is currently 29.67%.
In other news, Director Theodore Shasta purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $99.74 per share, for a total transaction of $199,480.00. Following the purchase, the director now directly owns 16,375 shares in the company, valued at approximately $1,633,242.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Paul Bennett Medini sold 3,982 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $163.41, for a total transaction of $650,698.62. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of CB. Norges Bank purchased a new position in Chubb in the 4th quarter worth about $629,466,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in Chubb by 27.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,251,181 shares of the financial services provider’s stock worth $506,079,000 after buying an additional 709,767 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Chubb by 4.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,740,607 shares of the financial services provider’s stock worth $2,138,862,000 after buying an additional 613,562 shares during the last quarter. Nuance Investments LLC raised its position in Chubb by 689.7% in the 4th quarter. Nuance Investments LLC now owns 543,468 shares of the financial services provider’s stock worth $84,596,000 after buying an additional 474,646 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Chubb by 38.8% in the 4th quarter. Stifel Financial Corp now owns 1,629,723 shares of the financial services provider’s stock worth $253,472,000 after buying an additional 455,569 shares during the last quarter. 88.83% of the stock is owned by institutional investors and hedge funds.
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.
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