JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Chubb (NYSE:CB) Stock

Chubb (NYSE:CB) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $294.00 to $296.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 8.93% from the company’s previous close.

Several other brokerages also recently commented on CB. Evercore ISI upped their target price on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Bank of America raised their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group boosted their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $287.47.

Chubb Stock Performance

Shares of Chubb stock opened at $271.73 on Friday. The firm has a fifty day moving average of $280.87 and a two-hundred day moving average of $277.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $109.53 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 6.43 and a beta of 0.67. Chubb has a 52 week low of $222.85 and a 52 week high of $302.05.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.95 earnings per share. As a group, equities research analysts predict that Chubb will post 21.82 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in Chubb by 5.6% in the 2nd quarter. Van ECK Associates Corp now owns 12,651 shares of the financial services provider’s stock valued at $3,227,000 after purchasing an additional 667 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Chubb by 37.9% during the 2nd quarter. Foundations Investment Advisors LLC now owns 1,493 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 410 shares during the period. FineMark National Bank & Trust increased its holdings in shares of Chubb by 11.2% during the 2nd quarter. FineMark National Bank & Trust now owns 2,710 shares of the financial services provider’s stock worth $691,000 after acquiring an additional 274 shares during the last quarter. TD Asset Management Inc raised its stake in Chubb by 7.4% in the 2nd quarter. TD Asset Management Inc now owns 213,294 shares of the financial services provider’s stock valued at $54,407,000 after acquiring an additional 14,726 shares during the period. Finally, Nicholas Hoffman & Company LLC. acquired a new stake in Chubb during the 2nd quarter valued at $338,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

About Chubb

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