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Chubb (CB) Receives a Buy from Wells Fargo

Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Chubb (CBResearch Report) today and set a price target of $248.00. The company’s shares closed last Tuesday at $188.28.

According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 11.1% and a 57.9% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and United Insurance Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chubb with a $234.08 average price target, representing a 25.2% upside. In a report issued on July 12, Jefferies also maintained a Buy rating on the stock with a $244.00 price target.

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Based on Chubb’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.67 billion and net profit of $1.97 billion. In comparison, last year the company earned revenue of $9.97 billion and had a net profit of $2.3 billion.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CB in relation to earlier this year. Most recently, in May 2022, John Keogh, the President & COO of CB sold 64,565 shares for a total of $13,454,517.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Chubb Limited, formerly known as ACE Limited, provides insurance and reinsurance products worldwide. With approximately 33,000 employees, the company operates in 54 countries and territories. The company’s insurance products cover life insurance, property and casualty (P&C), accident and health, and reinsurance. Chub is also the world’s largest publicly traded P&C insurance company. The company operates under six segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.

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