On July 17, Chubb rose 3.02% in regular trading, trading at $354.09/share, with turnover of $209 million. The gain was driven by a strong sector-wide rebound in Property & Casualty insurance stocks following a broad pullback on July 15, combined with multiple investment banks raising their target prices on the company.
The broader P&C insurance sector saw significant recovery, with Travelers surging 8.0%, Allstate gaining 3.47%, and Hartford Financial rising 3.26%. Meanwhile, several investment banks have recently issued upgraded price targets for Chubb: Citizens raised its target to $400, Keefe Bruyette & Woods to $389, Goldman Sachs to $386, and UBS to $369. According to FactSet, the average analyst rating stands at Overweight with a mean target price of approximately $362.
Additionally, the company is approaching its next earnings release scheduled for July 21, with consensus estimates projecting revenue of $12.987 billion and EPS of $6.75. Chubb shareholders recently approved a 5.2% annual dividend increase and authorized a new $7.5 billion share repurchase program effective July 1.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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