Q1 2024 Earnings Forecast for Chubb Limited Issued By Zacks Research (NYSE:CB)

Chubb Limited (NYSE:CB) – Zacks Research increased their Q1 2024 EPS estimates for shares of Chubb in a report released on Tuesday, April 2nd. Zacks Research analyst T. De now forecasts that the financial services provider will post earnings per share of $5.19 for the quarter, up from their previous forecast of $5.15. The consensus estimate for Chubb’s current full-year earnings is $21.17 per share. Zacks Research also issued estimates for Chubb’s Q2 2024 earnings at $5.33 EPS, Q3 2024 earnings at $4.64 EPS, Q4 2024 earnings at $5.60 EPS, FY2024 earnings at $20.75 EPS, Q1 2025 earnings at $5.07 EPS, Q3 2025 earnings at $7.12 EPS, Q4 2025 earnings at $7.05 EPS and FY2025 earnings at $21.64 EPS.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share for the quarter, beating analysts’ consensus estimates of $5.07 by $3.23. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The business had revenue of $13.38 billion for the quarter, compared to analyst estimates of $12.88 billion.

Several other equities research analysts have also commented on the stock. TD Cowen started coverage on shares of Chubb in a research note on Wednesday, January 10th. They set a “market perform” rating and a $254.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $282.00 price target on shares of Chubb in a research note on Monday. Roth Mkm lifted their price target on shares of Chubb from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wells Fargo & Company lifted their price target on shares of Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Finally, BMO Capital Markets lifted their price target on shares of Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research note on Monday, February 5th. Ten 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.94.

Chubb Price Performance

Shares of CB opened at $252.23 on Thursday. Chubb has a twelve month low of $183.71 and a twelve month high of $260.58. The firm’s fifty day simple moving average is $252.07 and its 200-day simple moving average is $231.47. The firm has a market capitalization of $102.34 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.21 and a beta of 0.62. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 14th. Chubb’s dividend payout ratio (DPR) is presently 15.76%.

Insider Buying and Selling at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Annmarie T. Hagan sold 7,180 shares of the business’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 transaction, 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 document filed with the SEC, which is accessible through this link. Also, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the transaction, the insider now directly owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The disclosure for this sale can be found here. Insiders have sold 116,043 shares of company stock valued at $29,766,694 over the last quarter. Corporate insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Chubb

A number of institutional investors have recently modified their holdings of CB. Americana Partners LLC acquired a new position in Chubb during the third quarter worth approximately $292,000. Lazard Asset Management LLC boosted its stake 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 valued at $113,781,000 after purchasing an additional 495,860 shares during the period. BKM Wealth Management LLC bought a new position in Chubb during the 4th quarter valued at $1,403,000. Royal Bank of Canada raised its holdings in shares of Chubb by 14.1% during the third quarter. Royal Bank of Canada now owns 1,550,856 shares of the financial services provider’s stock worth $322,857,000 after purchasing an additional 191,317 shares during the period. Finally, Cox Capital Mgt LLC raised its holdings in shares of Chubb by 48.0% during the fourth quarter. Cox Capital Mgt LLC now owns 16,661 shares of the financial services provider’s stock worth $3,765,000 after purchasing an additional 5,407 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.