Chubb Limited Expected to Earn FY2024 Earnings of $20.24 Per Share (NYSE:CB)

Chubb Limited (NYSE:CB) – Investment analysts at William Blair reduced their FY2024 earnings per share estimates for shares of Chubb in a note issued to investors on Thursday, June 27th. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $20.24 per share for the year, down from their prior estimate 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 EPS 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 firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the previous year, the company posted $4.41 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year.

CB has been the subject of several other research reports. JMP Securities reissued a “market outperform” rating and issued a $280.00 price objective on shares of Chubb in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com cut shares of Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and set a $282.00 price target on shares of Chubb in a research report on Monday, April 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $266.70.

Chubb Trading Down 2.7 %

Shares of Chubb stock opened at $255.08 on Monday. Chubb has a 1 year low of $183.71 and a 1 year high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $103.58 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 6.12 and a beta of 0.66. The firm has a fifty day moving average price of $259.30 and a 200 day moving average price of $248.79.

Chubb Increases Dividend

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

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Chubb by 0.8% in the third quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock valued at $3,855,996,000 after purchasing an additional 138,142 shares during the last quarter. Capital World Investors grew its position in shares of Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after buying an additional 685,677 shares during the last quarter. Capital Research Global Investors raised its stake in Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares in the last quarter. Norges Bank purchased a new stake in Chubb in the fourth quarter valued at $957,756,000. Finally, Lazard Asset Management LLC lifted its position in Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after acquiring an additional 457,881 shares during the last quarter. Institutional investors and hedge funds 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.