Movement Alert|Chubb Rises 3.02% in Regular Trading, Property Insurance Sector Rebounds as Multiple Banks Raise Target Prices

Market Focus07-17 23:06

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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment