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BMO's Adjustment In Coverage Of AIG, Chubb Limited And The Insurance Sector

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BMO's Adjustment In Coverage Of AIG, Chubb Limited And The Insurance Sector

Analysts at BMO Capital Markets made several changes to their price targets and ratings of insurance companies.

Chubb Downgraded To Market Perform

Charles Sebaski of BMO Capital Markets downgraded shares of Chubb Ltd (NYSE: CB) to Market Perform from Outperform with a price target raised to $136 from a previous $134.

Sebaski noted that shares of Chubb are trading above $130 per share and now is a "good time for investors to take their foot off the gas a little."

The analyst is still positive on the business and expects the company to generate long-term value creation. However, the 25 percent return in the company's stock over the past 52-weeks serves as a sign that investors should "wait for a better entry point."

Nevertheless, Chubb's stock should still be a core long-term holding for insurance investors and any dip in the stock should be considered a good entry point.

Related Link: Investors Looking At Chubb May Want To Wait For A Better Entry Point

Target Price And Rating Changes

  • Shares of American International Group Inc (NYSE: AIG) were maintained with a Market perform rating with a price target lowered to $58 from a previous $60.
  • Shares of James River Group Holdings Ltd (NASDAQ: JRVR) were maintained with an Outperform rating with a price target raised to $40 from a previous $38.
  • Shares of Hanover Insurance Group Inc (NYSE: THG) were maintained with an Outperform rating with a price target raised to $99 from a previous $98.
  • Shares of Travelers Companies Inc (NYSE: TRV) were maintained with a Market Perform rating with a price target raised to $120 from a previous $117.
  • Shares of Arthur J Gallagher & Co (NYSE: AJG) were maintained with an Outperform rating with a price target raised to $58 from a previous $52.
  • Shares of Aon plc Class A Ordinary Shares (UK) (NYSE: AON) were maintained with a Market Perform rating with a price target raised to $115 from a previous $107.
  • Shares of Brown & Brown, Inc. (NYSE: BRO) were maintained with a Market Perform rating with a price target raised to $37 from a previous $34.
  • Shares of Marsh & McLennan Companies, Inc. (NYSE: MMC) were maintained with a Market Perform rating with a price target raised to $73 from a previous $77.

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Latest Ratings for AIG

DateFirmActionFromTo
Feb 2019ArgusDowngradesBuyHold
Feb 2019Compass PointUpgradesNeutralBuy
Feb 2019Credit SuisseInitiates Coverage OnNeutral

View More Analyst Ratings for AIG
View the Latest Analyst Ratings

Posted-In: BMO Capital Markets Charles Sebaski insurance insurance companiesAnalyst Color Downgrades Price Target Analyst Ratings Best of Benzinga

 

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