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

Chubb Limited (NYSE:CB) – Analysts at William Blair decreased their FY2024 earnings per share estimates for shares of Chubb in a report issued on Thursday, June 27th. William Blair analyst A. Klauber now expects that the financial services provider will post earnings of $20.24 per share for the year, down from their prior 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.

A number of other equities analysts have also recently commented on the company. Citigroup reiterated a “neutral” rating and issued a $275.00 target price (up previously from $238.00) on shares of Chubb in a report on Thursday, March 14th. JPMorgan Chase & Co. lifted their target price on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Piper Sandler reiterated an “overweight” rating and issued a $282.00 target price on shares of Chubb in a report on Monday, April 1st. Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $244.00 to $266.00 in a report on Thursday, May 23rd. Finally, Roth Mkm restated a “buy” rating and set a $280.00 price objective on shares of Chubb in a report on Wednesday, April 24th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $266.70.

Chubb Stock Performance

NYSE:CB opened at $254.76 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. Chubb has a 1 year low of $186.52 and a 1 year high of $275.41. The stock’s 50 day simple moving average is $259.30 and its two-hundred day simple moving average is $248.79. The company has a market cap of $103.45 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 6.16 and a beta of 0.66.

Chubb (NYSE:CB) last released 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 business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the previous year, the company posted $4.41 EPS. The company’s revenue was up 14.1% compared to the same quarter last year.

Chubb Increases Dividend

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

Insider Transactions at Chubb

In other news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, 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 filing with the SEC, which is available at this hyperlink. In related news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 45,853 shares in the company, valued at $12,199,649.18. The disclosure for this sale can be found here. In the last three months, insiders sold 47,552 shares of company stock valued at $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Alphinity Investment Management Pty Ltd grew its stake in Chubb by 155.8% during 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 purchasing an additional 324,019 shares during the last quarter. ING Groep NV boosted its stake in shares of 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 buying an additional 112,242 shares during the last quarter. Graypoint LLC boosted its stake in shares of Chubb by 1,275.7% in the fourth quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after buying an additional 29,302 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Chubb in the fourth quarter worth about $1,403,000. Finally, Bison Wealth LLC purchased a new stake in shares of Chubb in the fourth quarter worth about $263,000. 83.81% of the stock is owned by institutional investors and hedge funds.

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.