Chubb Limited (NYSE:CB – Free Report) – Equities researchers at Zacks Research upped their Q3 2023 earnings estimates for Chubb in a report released on Tuesday, August 8th. Zacks Research analyst T. De now expects that the financial services provider will earn $3.88 per share for the quarter, up from their previous forecast of $3.69. The consensus estimate for Chubb’s current full-year earnings is $18.04 per share. Zacks Research also issued estimates for Chubb’s Q1 2024 earnings at $4.59 EPS, Q2 2024 earnings at $4.28 EPS, Q3 2024 earnings at $4.50 EPS, Q4 2024 earnings at $4.64 EPS, FY2024 earnings at $18.01 EPS, Q1 2025 earnings at $5.49 EPS and FY2025 earnings at $21.00 EPS.
Other analysts have also issued reports about the stock. Royal Bank of Canada increased their target price on shares of Chubb from $240.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Citigroup increased their target price on shares of Chubb from $229.00 to $235.00 in a report on Thursday, July 27th. Evercore ISI dropped their target price on shares of Chubb from $259.00 to $242.00 and set an “outperform” rating for the company in a report on Thursday, April 13th. Piper Sandler dropped their target price on shares of Chubb from $248.00 to $237.00 in a report on Thursday, July 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $250.00 target price on shares of Chubb in a report on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.79.
Check Out Our Latest Report on CB
Chubb Stock Performance
NYSE CB opened at $201.40 on Friday. The company has a 50-day simple moving average of $195.07 and a two-hundred day simple moving average of $199.92. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.26. Chubb has a 12-month low of $173.78 and a 12-month high of $231.37. The firm has a market cap of $82.72 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.11 and a beta of 0.64.
Chubb (NYSE:CB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.51. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $11.24 billion. During the same period in the prior year, the business posted $4.20 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis.
Institutional Investors Weigh In On Chubb
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Chubb by 17.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock worth $5,596,629,000 after purchasing an additional 4,210,564 shares during the last quarter. FMR LLC boosted its holdings in Chubb by 21.8% in the first quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock worth $2,739,488,000 after purchasing an additional 2,528,499 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Chubb by 102,751.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock worth $1,828,733,000 after purchasing an additional 8,281,754 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Chubb by 0.8% in the first quarter. Geode Capital Management LLC now owns 7,833,334 shares of the financial services provider’s stock worth $1,517,747,000 after purchasing an additional 60,630 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Chubb by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,786,479 shares of the financial services provider’s stock worth $1,276,497,000 after purchasing an additional 65,270 shares during the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.
Insider Buying and Selling at Chubb
In related news, EVP Timothy Alan Boroughs sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $205.41, for a total transaction of $308,115.00. Following the completion of the sale, the executive vice president now owns 2,335 shares of the company’s stock, valued at $479,632.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John J. Lupica sold 8,398 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $211.74, for a total transaction of $1,778,192.52. Following the completion of the sale, the insider now owns 154,049 shares of the company’s stock, valued at $32,618,335.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $205.41, for a total transaction of $308,115.00. Following the sale, the executive vice president now directly owns 2,335 shares of the company’s stock, valued at approximately $479,632.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,085 shares of company stock valued at $2,337,726. Corporate insiders own 0.37% of the company’s stock.
Chubb announced that its Board of Directors has initiated a stock buyback program on Monday, June 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Chubb Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.71%. Chubb’s dividend payout ratio is 24.71%.
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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