William Blair Weighs in on Chubb Limited’s FY2024 Earnings (NYSE:CB)

Chubb Limited (NYSE:CB) – Equities research analysts at William Blair decreased their FY2024 earnings per share (EPS) 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 per share of $20.24 for the year, down from their previous 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.

Several other equities analysts have also issued reports on the stock. Morgan Stanley boosted their target price 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. Piper Sandler reissued an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. Bank of America raised Chubb from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $244.00 to $266.00 in a research note on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, StockNews.com cut Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $266.70.

Chubb Stock Up 0.3 %

Chubb stock opened at $255.56 on Monday. The firm has a 50 day moving average price of $259.36 and a two-hundred day moving average price of $249.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. Chubb has a 52-week low of $186.52 and a 52-week high of $275.41. The firm has a market cap of $103.77 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 6.16 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 (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 company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the company earned $4.41 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year.

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 given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.42%. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. Chubb’s dividend payout ratio is presently 16.16%.

Insider Buying and Selling at Chubb

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 value of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Juan Luis Ortega sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at $11,648,059.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,552 shares of company stock worth $12,149,985. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Chubb

Several large investors have recently modified their holdings of the business. Pathway Financial Advisers LLC purchased a new stake in Chubb during the 1st quarter worth about $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Chubb in the fourth quarter worth about $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Chubb in the fourth quarter valued at approximately $29,000. Wellington Shields Capital Management LLC purchased a new position in Chubb during the first quarter valued at approximately $29,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in Chubb during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

About Chubb

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.