Chubb (NYSE:CB) Releases Earnings Results, Beats Expectations By $0.34 EPS

Chubb (NYSE:CB) released its quarterly earnings results on Tuesday. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34, Briefing.com reports. Chubb had a return on equity of 15.94% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter in the previous year, the firm posted $4.92 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year.

Chubb Stock Performance

Shares of CB traded up $3.95 during midday trading on Thursday, hitting $263.99. 471,083 shares of the stock traded hands, compared to its average volume of 1,644,529. Chubb has a 1-year low of $198.10 and a 1-year high of $275.41. The firm has a market capitalization of $107.20 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 6.16 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50 day moving average price is $262.18 and its two-hundred day moving average price is $253.05.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.91 per share. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.38%. Chubb’s payout ratio is 16.16%.

Insider Activity

In related news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the completion of the sale, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,552 shares of company stock valued at $12,149,985. 0.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CB has been the topic of a number of recent analyst reports. HSBC reaffirmed a “hold” rating and issued a $270.00 target price (down from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Evercore ISI lifted their price target on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Royal Bank of Canada lifted their price target on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Finally, Bank of America lifted their price target on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $270.05.

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.