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Chubb Limited (NYSE: CB) – Analysts at William Blair increased their FY2021 EPS estimates for Chubb shares in a research note released on Wednesday, October 27. William Blair analyst A. Klauber now expects the financial services provider to post earnings per share of $ 12.05 for the year, up from its previous estimate of 11.77 $. William Blair has a “Market Perform” rating on the stock. William Blair also released estimates for Chubb’s earnings for fiscal 2023 at $ 15.85 per share. Chubb (NYSE: CB) last released its quarterly results on Monday, October 25. The financial services provider reported EPS of $ 2.64 for the quarter, beating analyst consensus estimates of $ 2.16 by $ 0.48. The company posted revenue of $ 9.90 billion in the quarter, compared to analysts’ estimates of $ 9.21 billion. Chubb had a return on equity of 9.01% and a net margin of 21.20%. Chubb’s quarterly revenues increased 16.9% from the same quarter last year. In the same quarter of the previous year, the company posted EPS of $ 2.00.
A number of other research companies also commented on the CB. JMP Securities raised its price target on Chubb from $ 200.00 to $ 210.00 and gave the company a “buy” rating in a research report published on Wednesday, October 27. Raymond James raised his price target on Chubb from $ 200.00 to $ 220.00 and gave the stock a “strong buy” rating in a report released Thursday. The Royal Bank of Canada raised its target price on Chubb from $ 195.00 to $ 225 and gave the stock an “outperformance” rating in a report released Thursday. Zacks investment research downgraded Chubb from a “buy†rating to a “keep†rating and set a target price of $ 185.00 for the stock. in a report on Tuesday, September 28. Finally, Evercore ISI reiterated a “buy†note on Chubb shares in a report released on Sunday, October 10. One stock research analyst rated the stock with a sell rating, four assigned a conservation rating, eleven assigned a buy rating, and two rated the company’s stock as high. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy†and an average target price of $ 189.88.
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CB open for $ 195.38 Monday. The company has a 50-day simple moving average of $ 182.05 and a two-hundred-day simple moving average of $ 173.08. The company has a market cap of $ 85.72 billion, a price / earnings ratio of 9.94, a PEG ratio of 1.65, and a beta of 0.74. The company has a debt ratio of 0.25, a current ratio of 0.33, and a rapid ratio of 0.32. Chubb has a one-year low of $ 128.52 and a one-year high of $ 197.24.
Several hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Destiny Wealth Partners LLC purchased a new position in Chubb in the third quarter valued at $ 30,000. First Personal Financial Services purchased a new position in Chubb in the second quarter valued at $ 34,000. Samalin Investment Counsel LLC purchased a new position in Chubb in the 2nd quarter valued at $ 35,000. Gradient Investments LLC increased its stake in Chubb by 145.1% in the 2nd quarter. Gradient Investments LLC now owns 223 shares of the financial services provider valued at $ 36,000 after purchasing 132 additional shares during the period. Finally, Capital Directions Investment Advisors LLC purchased a new position in Chubb in the second quarter valued at $ 36,000. 86.68% of the shares are currently held by hedge funds and other institutional investors.
In related news, insider John J. Lupica sold 10,140 shares of the company in a trade that took place on Wednesday, August 11. The stock was sold for an average price of $ 180.00, for a total value of $ 1,825,200.00. The transaction has been disclosed in a legal file with the SEC, which is available through the SEC website. In addition, Executive Vice President Juan Luis Ortega sold 3,650 shares in a trade on Wednesday, August 11. The shares were sold for an average price of $ 180.92, for a total value of $ 660,358.00. Disclosure of this sale can be found here. Insiders have sold a total of 59,188 shares of the company valued at $ 10,920,772 in the past ninety days. 0.39% of the shares are currently owned by insiders.
Chubb said its board of directors approved a share buyback program on Monday, July 19 that allows the company to repurchase $ 5.00 billion of outstanding shares. This buyback authorization authorizes the financial services provider to buy back up to 6.9% of its shares by way of purchase on the market. Share buyback programs typically indicate that the board of directors of the company believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, October 8. Investors of record on Friday, September 17 received a dividend of $ 0.80. The ex-dividend date of this dividend was Thursday, September 16. This represents an annualized dividend of $ 3.20 and a dividend yield of 1.64%. Chubb’s payout ratio is currently 43.78%.
Chubb Company Profile
Chubb Ltd. is a holding company engaged in the provision of business and personal property and damage insurance, personal accident and health accident (A&H), reinsurance and life insurance. It operates in the following segments: P&C insurance in North America, P&C insurance in North America, agricultural insurance in North America, general insurance abroad, global reinsurance and life insurance.
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