Research Analysts Set Expectations for Chubb Limited’s FY2024 Earnings (NYSE:CB)

Chubb Limited (NYSE:CB) – Investment analysts at William Blair lowered their FY2024 EPS estimates for shares of Chubb in a research note issued on Thursday, June 27th. William Blair analyst A. Klauber now forecasts that the financial services provider will earn $20.24 per share for the year, down from their prior forecast of $21.45. William Blair has a “Underperform” rating on the stock. The consensus estimate for Chubb’s current full-year earnings is $21.03 per share.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the business earned $4.41 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Bank of America raised shares of Chubb from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $244.00 to $266.00 in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a report on Monday, April 8th. HSBC restated a “hold” rating and set a $270.00 target price (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $285.00 price target on shares of Chubb in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $266.70.

Chubb Stock Performance

CB opened at $255.08 on Monday. The stock’s 50 day simple moving average is $259.30 and its 200-day simple moving average is $248.79. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The stock has a market cap of $103.58 billion, a PE ratio of 11.32, a P/E/G ratio of 6.12 and a beta of 0.66. Chubb has a 1 year low of $183.71 and a 1 year high of $275.41.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.91 per share. This is a boost from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, June 14th. Chubb’s payout ratio is currently 16.16%.

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael G. Atieh sold 716 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction of $193,105.20. Following the completion of the sale, the director now owns 39,295 shares in the company, valued at approximately $10,597,861.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction on Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the transaction, the director now directly owns 39,295 shares in the company, valued at $10,597,861.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,552 shares of company stock worth $12,149,985. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CB. Ancora Advisors LLC boosted its position in Chubb by 51.2% during the third quarter. Ancora Advisors LLC now owns 771 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 261 shares during the last quarter. Waverly Advisors LLC acquired a new stake in Chubb during the 3rd quarter valued at $241,000. Axxcess Wealth Management LLC bought a new position in Chubb during the third quarter worth $412,000. Alta Fox Capital Management LLC acquired a new position in shares of Chubb in the third quarter valued at $3,477,000. Finally, Alps Advisors Inc. increased its holdings in shares of Chubb by 20.3% in the third quarter. Alps Advisors Inc. now owns 22,222 shares of the financial services provider’s stock valued at $4,626,000 after purchasing an additional 3,748 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.