William Blair Comments on Chubb Limited’s Q2 2024 Earnings (NYSE:CB)

Chubb Limited (NYSE:CB) – Equities research analysts at William Blair cut their Q2 2024 earnings per share estimates for shares of Chubb in a report released on Wednesday, April 24th. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings per share of $5.30 for the quarter, down from their prior estimate of $5.47. The consensus estimate for Chubb’s current full-year earnings is $21.17 per share.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $4.41 earnings per share.

A number of other research analysts have also weighed in on the company. HSBC restated a “hold” rating and set a $270.00 price objective (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Evercore ISI boosted their target price on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price target on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $280.00 price target on shares of Chubb in a report on Monday, April 15th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chubb presently has an average rating of “Moderate Buy” and a consensus target price of $266.89.

Chubb Price Performance

NYSE:CB opened at $248.62 on Monday. The stock has a market cap of $100.94 billion, a PE ratio of 11.04, a P/E/G ratio of 1.16 and a beta of 0.62. The business’s 50-day simple moving average is $252.26 and its two-hundred day simple moving average is $236.43. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.20. Chubb has a 52 week low of $183.71 and a 52 week high of $260.58.

Institutional Investors Weigh In On Chubb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rossmore Private Capital boosted its stake in shares of Chubb by 1.6% during the 4th quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 41 shares in the last quarter. Equitable Trust Co. boosted its stake in shares of Chubb by 1.4% during the 1st 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 in the last quarter. MCF Advisors LLC boosted its stake in shares of Chubb by 4.2% during the 4th quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 42 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Chubb by 11.1% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 422 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 42 shares in the last quarter. Finally, Angeles Investment Advisors LLC lifted its stake in Chubb by 2.1% in the 4th quarter. Angeles Investment Advisors LLC now owns 2,027 shares of the financial services provider’s stock valued at $460,000 after buying an additional 42 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the transaction, the insider now directly owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chubb news, insider John J. Lupica sold 34,464 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now directly owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 6,105 shares in the company, valued at $1,495,969.20. The disclosure for this sale can be found here. Insiders have sold a total of 116,043 shares of company stock valued at $29,766,694 in the last ninety days. Company insiders own 0.86% of the company’s stock.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s payout ratio is 15.27%.

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.