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

Chubb Limited (NYSE:CB) – Stock analysts at Zacks Research lowered their Q3 2024 EPS estimates for Chubb in a research report issued on Tuesday, August 6th. Zacks Research analyst T. De now expects that the financial services provider will earn $4.72 per share for the quarter, down from their previous estimate of $4.78. The consensus estimate for Chubb’s current full-year earnings is $21.15 per share. Zacks Research also issued estimates for Chubb’s Q4 2024 earnings at $5.61 EPS, FY2024 earnings at $21.12 EPS, Q1 2025 earnings at $5.71 EPS and Q3 2025 earnings at $5.72 EPS.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter last year, the company posted $4.92 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis.

A number of other equities research analysts have also recently commented on the stock. JMP Securities raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. Roth Mkm increased their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley dropped their price target on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group increased their price objective on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada boosted their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $270.79.

Chubb Stock Performance

Shares of NYSE:CB traded up $1.04 during midday trading on Thursday, reaching $270.26. The company’s stock had a trading volume of 958,866 shares, compared to its average volume of 1,654,021. The firm has a market capitalization of $109.74 billion, a PE ratio of 11.99, a P/E/G ratio of 5.21 and a beta of 0.66. The stock has a fifty day moving average of $263.18 and a 200 day moving average of $256.27. Chubb has a twelve month low of $198.10 and a twelve month high of $277.91. The company has a quick ratio of 0.29, a current ratio of 0.31 and a debt-to-equity ratio of 0.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Beacon Capital Management LLC raised its holdings in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the period. Pathway Financial Advisers LLC acquired a new position in shares of Chubb during the first quarter worth $25,000. Chilton Capital Management LLC purchased a new position in shares of Chubb in the second quarter valued at $26,000. Wellington Shields Capital Management LLC acquired a new stake in Chubb during the 1st quarter valued at $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Chubb during the 4th quarter worth $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Chubb

In related news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the transaction, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,845 shares of company stock worth $3,404,515. Company insiders own 0.86% of the company’s stock.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.35%. Chubb’s payout ratio is currently 16.16%.

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.