Chubb (NYSE:CB) Downgraded to Underperform at William Blair

William Blair cut shares of Chubb (NYSE:CB) from a market perform rating to an underperform rating in a report released on Friday, MarketBeat Ratings reports. William Blair also issued estimates for Chubb’s FY2024 earnings at $20.24 EPS.

A number of other brokerages also recently weighed in on CB. StockNews.com downgraded Chubb from a buy rating to a hold rating in a report on Wednesday, April 24th. Evercore ISI boosted their price target on Chubb from $270.00 to $281.00 and gave the company an outperform rating in a report on Thursday, April 11th. Citigroup reiterated a neutral rating and issued a $275.00 price target (up from $238.00) on shares of Chubb in a report on Thursday, March 14th. Roth Mkm reiterated a buy rating and issued a $280.00 price target on shares of Chubb in a report on Wednesday, April 24th. Finally, JMP Securities reiterated a market outperform rating and issued a $280.00 price target on shares of Chubb in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of Hold and a consensus target price of $266.70.

Chubb Price Performance

Shares of NYSE CB opened at $255.07 on Friday. Chubb has a fifty-two week low of $183.71 and a fifty-two week high of $275.41. The business has a 50 day moving average price of $259.30 and a two-hundred day moving average price of $248.48. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. The firm has a market cap of $103.57 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 6.24 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating 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 firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter last year, the firm earned $4.41 EPS. Chubb’s quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts expect that Chubb will post 21.15 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, June 14th. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is 16.16%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now owns 284,136 shares in the company, valued at approximately $71,596,589.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction 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 approximately $12,199,649.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,552 shares of company stock worth $12,149,985. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chubb

A number of institutional investors and hedge funds have recently modified their holdings of CB. Ancora Advisors LLC raised 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 buying an additional 261 shares during the period. First Dallas Securities Inc. raised its position in Chubb by 137.9% during the third quarter. First Dallas Securities Inc. now owns 5,130 shares of the financial services provider’s stock valued at $1,068,000 after buying an additional 2,974 shares during the period. Waverly Advisors LLC acquired a new position in Chubb during the third quarter valued at $241,000. United Services Automobile Association acquired a new position in Chubb during the third quarter valued at $2,286,000. Finally, Jones Financial Companies Lllp raised its position in Chubb by 63.9% during the third quarter. Jones Financial Companies Lllp now owns 739 shares of the financial services provider’s stock valued at $154,000 after buying an additional 288 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

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.