2024-03-27 18:16:08 ET
Summary
- Chubb's shares have risen 36% over the past year, supported by strong underwriting and elevated rates.
- The company reported strong core operating earnings of $8.30 in its latest quarter, more than double last year's results, aided by taxes.
- Chubb's diversified business model and global presence help reduce its exposure to any one event or sector.
Shares of Chubb ( CB ) have been a solid performer over the past year, rising 36%, and currently sitting near an all-time high as strong underwriting and elevated rates have combined to support strong profitability. Since rating shares a strong buy in October , shares have largely kept pace with the market rally, returning about 20%. Given their strong rally, shares have now moved beyond my $242 price target, making it a natural time to revisit Chubb and determine if it is time to take profits. I see further, though more moderate, upside....
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Chubb: Strong Underwriting Provides Moderate Upside [Downgrade]