Q3 2024 EPS Estimates for Chubb Limited (NYSE:CB) Boosted by Analyst

Chubb Limited (NYSE:CB) – Stock analysts at Zacks Research upped their Q3 2024 earnings estimates for Chubb in a report issued on Tuesday, May 7th. Zacks Research analyst T. De now anticipates that the financial services provider will post earnings per share of $4.75 for the quarter, up from their prior forecast 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 released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion during 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 company posted $4.41 earnings per share.

A number of other analysts have also recently commented on the stock. Raymond James upped their price target on shares of Chubb from $270.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. UBS Group lifted their price target on Chubb from $245.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Keefe, Bruyette & Woods dropped their price objective on Chubb from $297.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and set a $280.00 target price on shares of Chubb in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $266.74.

Chubb Stock Performance

Shares of CB stock opened at $251.61 on Thursday. Chubb has a 52 week low of $183.71 and a 52 week high of $260.58. The firm’s 50-day simple moving average is $251.85 and its two-hundred day simple moving average is $237.76. The firm has a market cap of $102.17 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29.

Hedge Funds Weigh In On Chubb

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Chubb by 1.2% during the 3rd quarter. Mackenzie Financial Corp now owns 74,041 shares of the financial services provider’s stock valued at $15,172,000 after buying an additional 906 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Chubb by 12.6% in the 3rd quarter. Park Avenue Securities LLC now owns 15,438 shares of the financial services provider’s stock worth $3,214,000 after acquiring an additional 1,730 shares during the last quarter. Altfest L J & Co. Inc. purchased a new position in shares of Chubb during the 3rd quarter worth about $203,000. Graypoint LLC raised its position in Chubb by 22.8% in the 3rd quarter. Graypoint LLC now owns 2,297 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 426 shares during the period. Finally, Conning Inc. boosted its position in shares of Chubb by 1.7% during the third quarter. Conning Inc. now owns 3,054 shares of the financial services provider’s stock valued at $636,000 after buying an additional 50 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 33,150 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the completion of the sale, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the completion of the transaction, the executive vice president now directly owns 50,486 shares in the company, valued at approximately $12,879,483.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 26,946 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the sale, the executive vice president now owns 95,252 shares in the company, valued at approximately $24,481,669.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,863 shares of company stock worth $28,007,307. 0.86% of the stock is owned by insiders.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.86 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.44 annualized dividend and a dividend yield of 1.37%. 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.