Research Analysts Offer Predictions for Chubb Limited’s FY2024 Earnings (NYSE:CB)

Chubb Limited (NYSE:CB) – Equities researchers at William Blair raised their FY2024 earnings per share estimates for shares of Chubb in a research note issued on Wednesday, July 24th. William Blair analyst A. Klauber now forecasts that the financial services provider will post earnings of $21.20 per share for the year, up from their previous 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.

A number of other research analysts also recently commented on the company. Evercore ISI boosted their target price on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Royal Bank of Canada boosted their price target on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JMP Securities raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Bank of America boosted their target price on shares of Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm raised their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $270.79.

Chubb Trading Up 1.8 %

Chubb stock opened at $276.66 on Monday. Chubb has a 12 month low of $198.10 and a 12 month high of $277.91. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.21. 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. The company’s fifty day simple moving average is $262.41 and its 200-day simple moving average is $254.47.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $13.04 billion. During the same period in the previous year, the firm posted $4.92 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis.

Institutional Trading of Chubb

A number of institutional investors and hedge funds have recently modified their holdings of CB. Alphinity Investment Management Pty Ltd increased its holdings in Chubb by 155.8% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock valued at $120,235,000 after buying an additional 324,019 shares during the period. ING Groep NV raised its position in Chubb by 175,378.1% in the fourth quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock worth $25,381,000 after purchasing an additional 112,242 shares in the last quarter. Graypoint LLC lifted its stake in Chubb by 1,275.7% during the fourth quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after purchasing an additional 29,302 shares during the period. Bison Wealth LLC bought a new position in Chubb during the fourth quarter worth about $263,000. Finally, Van Leeuwen & Company LLC boosted its holdings in Chubb by 602.7% during the fourth quarter. Van Leeuwen & Company LLC now owns 7,941 shares of the financial services provider’s stock valued at $1,795,000 after purchasing an additional 6,811 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction that occurred 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 directly owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Chubb news, 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 completion of the sale, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Annmarie T. Hagan sold 1,529 shares of the firm’s stock in a transaction on 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 owns 7,718 shares in the company, valued at $2,036,085.58. The disclosure for this sale can be found here. Insiders sold a total of 47,552 shares of company stock worth $12,149,985 in the last 90 days. 0.86% of the stock is owned by company insiders.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, June 14th. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is currently 16.16%.

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.