William Blair Weighs in on Chubb Limited’s Q3 2024 Earnings (NYSE:CB)

Chubb Limited (NYSE:CB) – Analysts at William Blair lifted their Q3 2024 earnings per share (EPS) estimates for shares of Chubb in a report issued on Wednesday, April 24th. William Blair analyst A. Klauber now anticipates that the financial services provider will earn $4.77 per share for the quarter, up from their previous estimate of $4.68. The consensus estimate for Chubb’s current full-year earnings is $21.32 per share. William Blair also issued estimates for Chubb’s Q4 2024 earnings at $5.97 EPS, Q1 2025 earnings at $5.99 EPS, Q2 2025 earnings at $5.84 EPS, Q3 2025 earnings at $5.12 EPS and Q4 2025 earnings at $6.56 EPS.

CB has been the topic of several other reports. UBS Group raised their price objective on Chubb from $245.00 to $256.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Piper Sandler reiterated an “overweight” rating and issued a $282.00 target price on shares of Chubb in a research report on Monday, April 1st. Royal Bank of Canada dropped their target price on Chubb from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods increased their target price on Chubb from $275.00 to $297.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets increased their target price on Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research report on Monday, February 5th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Moderate Buy” and an average price target of $266.89.

Chubb Stock Performance

NYSE:CB opened at $245.38 on Friday. The stock’s 50-day simple moving average is $252.33 and its 200 day simple moving average is $235.52. The firm has a market capitalization of $99.62 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.14 and a beta of 0.62. 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 twelve month low of $183.71 and a twelve month high of $260.58.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) 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 analyst estimates of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. Chubb’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.41 EPS.

Institutional Investors Weigh In On Chubb

A number of hedge funds have recently added to or reduced their stakes in CB. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Chubb during the fourth quarter valued at approximately $29,000. ZRC Wealth Management LLC purchased a new position in Chubb during the fourth quarter worth about $29,000. EdgeRock Capital LLC purchased a new position in Chubb during the fourth quarter worth about $35,000. Tennessee Valley Asset Management Partners bought a new position in shares of Chubb during the 4th quarter valued at about $32,000. Finally, Northwest Financial Advisors bought a new position in shares of Chubb during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insiders Place Their Bets

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction that occurred 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 directly owns 6,105 shares in the company, valued at $1,495,969.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Chubb news, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Annmarie T. Hagan sold 7,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 directly owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,043 shares of company stock worth $29,766,694. 0.86% of the stock is owned by corporate insiders.

Chubb Announces Dividend

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