Chubb Limited (NYSE:CB) Forecasted to Earn Q3 2024 Earnings of $4.65 Per Share

Chubb Limited (NYSE:CB) – Analysts at Roth Capital cut their Q3 2024 earnings per share estimates for shares of Chubb in a research note issued on Wednesday, April 24th. Roth Capital analyst H. Fong now anticipates that the financial services provider will earn $4.65 per share for the quarter, down from their previous estimate of $4.74. The consensus estimate for Chubb’s current full-year earnings is $21.32 per share. Roth Capital also issued estimates for Chubb’s Q4 2024 earnings at $5.76 EPS, Q1 2025 earnings at $6.01 EPS, Q2 2025 earnings at $5.87 EPS and FY2025 earnings at $24.30 EPS.

Several other brokerages have also recently weighed in on CB. JMP Securities reaffirmed a “market outperform” rating and issued a $280.00 price target on shares of Chubb in a research note on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on Chubb from $275.00 to $297.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. TD Cowen began coverage on Chubb in a report on Wednesday, January 10th. They set a “market perform” rating and a $254.00 price target for the company. The Goldman Sachs Group raised their price target on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, HSBC restated a “hold” rating and set a $270.00 price target (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.89.

Chubb Price Performance

Shares of CB stock opened at $245.99 on Thursday. The stock has a market cap of $99.87 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.17 and a beta of 0.62. The business’s fifty day moving average is $252.44 and its 200 day moving average is $235.28. Chubb has a twelve month low of $183.71 and a twelve month high of $260.58. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.74% and a net margin of 17.99%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.41 earnings per share.

Hedge Funds Weigh In On Chubb

A number of hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC boosted its stake in shares of Chubb by 3.5% in the first quarter. Lindbrook Capital LLC now owns 2,574 shares of the financial services provider’s stock worth $667,000 after acquiring an additional 87 shares during the period. Center for Financial Planning Inc. boosted its stake in shares of Chubb by 5.2% in the first quarter. Center for Financial Planning Inc. now owns 2,648 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 131 shares during the period. Strategy Asset Managers LLC boosted its stake in shares of Chubb by 5.3% in the first quarter. Strategy Asset Managers LLC now owns 1,360 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 69 shares during the period. Equitable Trust Co. boosted its stake in shares of Chubb by 1.4% in the first quarter. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock worth $774,000 after acquiring an additional 41 shares during the period. Finally, Smith Chas P & Associates PA Cpas boosted its stake in shares of Chubb by 5.9% in the first quarter. Smith Chas P & Associates PA Cpas now owns 155,533 shares of the financial services provider’s stock worth $40,303,000 after acquiring an additional 8,731 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In related news, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the sale, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The disclosure for this sale can be found here. Insiders sold 116,043 shares of company stock valued at $29,766,694 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, March 14th. Chubb’s payout ratio is currently 15.27%.

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.