Zacks Research Weighs in on Chubb Limited’s Q3 2024 Earnings (NYSE:CB)

Chubb Limited (NYSE:CB) – Investment analysts at Zacks Research lifted their Q3 2024 earnings per share estimates for shares of Chubb in a research report issued on Tuesday, May 7th. Zacks Research analyst T. De now expects that the financial services provider will earn $4.75 per share for the quarter, up from their previous estimate of $4.64. The consensus estimate for Chubb’s current full-year earnings is $21.18 per share. Zacks Research also issued estimates for Chubb’s Q4 2024 earnings at $5.63 EPS, FY2024 earnings at $21.11 EPS and FY2025 earnings at $22.44 EPS.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter last year, the company earned $4.41 EPS. Chubb’s revenue for the quarter was up 14.1% compared to the same quarter last year.

Several other research analysts have also commented on CB. Royal Bank of Canada cut their price target on Chubb from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price target on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com lowered Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Raymond James boosted their target price on Chubb from $270.00 to $285.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Finally, Roth Mkm reissued a “buy” rating and issued a $280.00 target price on shares of Chubb in a report on Wednesday, April 24th. Ten investment 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $266.74.

Chubb Price Performance

Shares of NYSE CB opened at $254.04 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. Chubb has a fifty-two week low of $183.71 and a fifty-two week high of $260.58. The firm has a market capitalization of $103.16 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. The stock’s 50-day simple moving average is $251.81 and its 200-day simple moving average is $237.86.

Institutional Investors Weigh In On Chubb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in shares of Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares during the period. Norges Bank purchased a new stake in shares of Chubb in the fourth quarter worth about $957,756,000. Confluence Investment Management LLC purchased a new stake in shares of Chubb in the first quarter worth about $165,932,000. Bank of Nova Scotia boosted its position in shares of Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after buying an additional 518,535 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Chubb by 978.1% in the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after buying an additional 495,860 shares during the period. 83.81% of the stock is currently 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 completion of the transaction, the insider now directly owns 130,937 shares in the company, valued at $33,902,208.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chubb 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 completion of the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,570 shares of company stock worth $36,752,777. 0.86% of the stock is currently owned by insiders.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.86 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.35%. 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.