William Blair Analysts Lift Earnings Estimates for Chubb Limited (NYSE:CB)

Chubb Limited (NYSE:CB) – Equities research analysts at William Blair boosted their FY2024 earnings estimates for Chubb in a note issued to investors on Wednesday, July 24th. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $21.20 per share for the year, up from their prior forecast of $20.24. William Blair has a “Underperform” rating on the stock. The consensus estimate for Chubb’s current full-year earnings is $21.12 per share.

Several other analysts also recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada upped their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods raised their price objective on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday. JMP Securities boosted their target price on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. Finally, Bank of America raised their price target on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $270.79.

Chubb Trading Up 1.8 %

NYSE:CB opened at $276.66 on Monday. The stock has a market cap of $112.34 billion, a P/E ratio of 12.28, a P/E/G ratio of 5.18 and a beta of 0.66. Chubb has a 1 year low of $198.10 and a 1 year high of $277.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.36. The stock has a 50-day simple moving average of $262.41 and a 200-day simple moving average of $254.47.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate 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.

Hedge Funds Weigh In On Chubb

Several hedge funds have recently bought and sold shares of CB. Capital World Investors increased its position in shares of Chubb by 6.6% in the first 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 in the last quarter. Capital Research Global Investors lifted its holdings in shares of Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Norges Bank acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $957,756,000. Lazard Asset Management LLC increased its stake in shares of Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Chubb by 2.9% during the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after purchasing an additional 87,059 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In related news, Director Michael G. Atieh sold 716 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $269.70, for a total transaction of $193,105.20. Following the transaction, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael G. Atieh sold 716 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the sale, the director now owns 39,295 shares in the company, valued at $10,597,861.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juan Luis Ortega sold 2,400 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,552 shares of company stock valued at $12,149,985. 0.86% of the stock is owned by corporate insiders.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were given a $0.91 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.32%. This is an increase from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

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.