Roth Capital Has Optimistic Outlook of Chubb FY2024 Earnings

Chubb Limited (NYSE:CB) – Equities researchers at Roth Capital lifted their FY2024 EPS estimates for Chubb in a report released on Wednesday, October 30th. Roth Capital analyst H. Fong now anticipates that the financial services provider will post earnings of $22.00 per share for the year, up from their prior estimate of $21.15. The consensus estimate for Chubb’s current full-year earnings is $21.32 per share. Roth Capital also issued estimates for Chubb’s Q4 2024 earnings at $5.49 EPS, Q1 2025 earnings at $5.92 EPS, Q1 2026 earnings at $6.44 EPS, Q2 2026 earnings at $6.27 EPS and FY2026 earnings at $26.00 EPS.

Several other research analysts have also recently issued reports on CB. Roth Mkm increased their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Evercore ISI increased their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upped their target price on Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Barclays assumed coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned 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 company has an average rating of “Hold” and a consensus target price of $286.63.

Chubb Price Performance

CB opened at $283.64 on Thursday. The company has a market capitalization of $115.18 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 5.87 and a beta of 0.66. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb has a 12-month low of $212.82 and a 12-month high of $302.05. The business’s fifty day simple moving average is $288.01 and its 200-day simple moving average is $270.32.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.93 by $0.79. The firm had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.95 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CB. ORG Partners LLC acquired a new position in shares of Chubb during the 2nd quarter worth approximately $963,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Chubb by 16.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after purchasing an additional 10,745 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Chubb during the first quarter worth about $984,000. Leuthold Group LLC acquired a new position in shares of Chubb during the 1st quarter worth about $3,033,000. Finally, Private Advisor Group LLC lifted its stake in Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after buying an additional 2,250 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now owns 39,172 shares in the company, valued at $11,261,558.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is currently owned by insiders.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. Chubb’s dividend 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.