On October 11, 2023, analysts at Morgan Stanley raised their price target for Chubb (NYSE:CB) from $209.00 to $224.00, according to a research note cited by Benzinga. The financial services provider’s stock currently holds an “equal weight” rating from the firm. With this new price target, Morgan Stanley predicts a potential upside of 6.98% from the company’s current price.
During midday trading on Wednesday, shares of NYSE CB traded down $0.28, reaching $209.39. The stock had a trading volume of 199,955 shares, compared to its average volume of 1,763,235. Chubb has a market capitalization of $86.00 billion and boasts a P/E ratio of 15.04. Its price-to-earnings-growth ratio stands at 1.15 with a beta of 0.63.
Over the past year, Chubb’s stock has fluctuated between its low point of $181.32 and its high point of $231.37. These figures highlight the volatility experienced within the market for Chubb shares over the last fifty-two weeks.
In terms of financial position and liquidity ratios, Chubb exhibits commendable numbers as well. The company maintains a debt-to-equity ratio of 0.26 alongside current and quick ratios both standing at 0.34 as per the latest reported data available in October 2023.
When examining moving averages for Chubb’s stock performance in recent periods, it is worth noting that its 50-day simple moving average is recorded as $205.56 while the 200-day simple moving average stands at $199.14.
In terms of ownership and investment activity surrounding Chubb’s stock, several large investors have made changes to their positions in the company recently according to available data up till October 2023.
ICA Group Wealth Management LLC initiated a new position in Chubb during the fourth quarter, valuing it at approximately $25,000. Similarly, Guardian Wealth Advisors LLC acquired a new stake worth around $25,000 during the first quarter of the same year. Another notable investor is IMA Wealth Inc., whose stake in Chubb has seen growth of 275.7% during the second quarter and now owns 139 shares valued at $27,000. Mcmillion Capital Management Inc. also entered into Chubb’s stock in the second quarter with a value of $35,000 while Altshuler Shaham Ltd bought a new stake in the company valued at $47,000 during the fourth quarter.
Tracking back to Chubb’s earnings results released on July 25th of 2023, the company reported earnings per share (EPS) of $4.92 for that period — surpassing analysts’ consensus estimates by $0.51 ($4.41 expected). Meanwhile, Chubb’s revenue for that same quarter was recorded as $10.68 billion compared to a consensus estimate of $11.24 billion. The net margin achieved by Chubb was 12.47%, marking a return on equity of 13.56%. Compared to the previous year’s figures, the company experienced an increase of 9.8% in revenue.
Taking all this information into account, research analysts anticipate Chubb will record an EPS figure of 18.35 for this current year.
As always with financial analysis and projections, it is important to carefully consider individual investment strategies and consult with professional advisors before making any decisions regarding stocks or other financial instruments.
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Chubb Receives Positive Analyst Ratings as Insiders Sell Shares: Examining Confidence in the Company’s Future Growth Potential
October 11, 2023: Chubb Receives Positive Ratings from Analysts while EVP and Director Sell Shares
Chubb, a renowned insurance company, has recently received positive ratings from equities analysts, as per the reports by StockNews.com. The research note issued on October 5th by StockNews.com assigned a “buy” rating to Chubb’s stock. This was further supported by Barclays’ research report on July 27th where they raised the target price for Chubb from $260.00 to $267.00 and gave the stock an “overweight” rating. Additionally, Royal Bank of Canada reiterated an “outperform” rating and set a price objective of $245.00 for Chubb shares.
BMO Capital Markets also played a role in boosting confidence in the company when they increased their price target on July 27th from $200.00 to $210.00 for Chubb’s stock. Moreover, Citigroup raised their target price on Tuesday to $238.00 and gave the stock a “buy” rating.
Based on these ratings, it is evident that investors are showing optimism towards the company’s prospects in the market. In fact, out of seventeen equities research analysts surveyed by Bloomberg.com, four have given Chubb a hold rating, twelve have assigned a buy rating, and one has issued a strong buy rating to its stock.
According to Bloomberg.com analysis conducted on October 11th, the company currently holds an average rating of “Moderate Buy,” with an average price target of $245.33.
While positive ratings continue to flow in for Chubb, there have been notable sell-offs within company insiders’ positions over recent weeks. On September 19th, EVP Joseph F. Wayland sold 11,537 shares of Chubb’s stock at an average price of $213.67 per share generating total proceeds of $2,465,110.79. Following this transaction, Wayland now owns 93,315 shares of the company’s stock, with an approximate value of $19,938,616.05.
The sale by Wayland was duly reported to the Securities and Exchange Commission (SEC) in a legal filing accessible through the provided hyperlink. The filing emphasized that Wayland completed another transaction in which he sold 11,537 shares on the same day.
Similarly, on August 14th, Director Theodore Shasta sold 699 Chubb shares at an average price of $201.94 per share amounting to a total value of $141,156.06. Following this sale, Shasta now holds 14,511 shares in the company valued at approximately $2,930,351.34.
These recent insider sell-offs have amounted to a total of 34,071 Chubb shares sold over the past three months by corporate insiders. The cumulative value of these transactions stands at an impressive $7,110,385. As a result of these sales transactions, corporate insiders now hold approximately 0.37% ownership of Chubb’s stock.
While positive ratings from equities analysts suggest promising prospects for Chubb in terms of market performance and profitability, it is worth noting that insider selling may raise questions among investors regarding their confidence in the stock’s future growth potential.
However, it is always important to analyze such actions within a broader context as insider selling can occur due to various reasons including diversification of portfolios or personal financial obligations rather than reflecting negative sentiment towards the company’s outlook.
As the insurance industry continues to evolve and adapt to changing market dynamics and emerging risks worldwide, investors will closely monitor Chubb’s performance to determine whether it can maintain its positive momentum and deliver strong returns.
