Chubb Limited (CB) Gets a Buy Rating from Wells Fargo

Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Chubb Limited (NYSE: CB) today and set a price target of $169. The company’s shares opened today at $134.95.

Greenspan noted:

“We believe the losses exceeded consensus due to CB’s exposure to international events (the only other company under coverage that could also see losses from international events, and could potentially preview cat losses, is AIG). Following this announcement, we are lowering our Q3 2018 EPS estimate from $2.46 to $2.41 and we are lowering our 2018 EPS estimate from $10.10 to $10.06. 2020 estimates are unchanged at $11.15 and $11.95, respectively. We are maintaining our Outperform rating and $169 price target. The CB shares are down 1% (in-line with the S&P) as the insurance group is trading lower in anticipation of Michael making landfall today (for context CB has about a 1.8% share of the hurricane-exposed lines in Florida).”

According to, Greenspan is a 4-star analyst with an average return of 6.0% and a 66.3% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Renaissancere Holdings Ltd.

Chubb Limited has an analyst consensus of Moderate Buy, with a price target consensus of $126.

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Based on Chubb Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $8.37 billion and net profit of $1.29 billion. In comparison, last year the company earned revenue of $8.6 billion and had a GAAP net loss of $70 million.

Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock. Last month, Timothy Alan Boroughs, the EVP* of CB sold 14,971 shares for a total of $2,086,508.

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Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and supplemental health insurance (A&H), reinsurance, and life insurance. It operates through the following geographical 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. The company was founded on January 14, 2016 and is headquartered in Zurich, Switzerland.

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