Chubb (NYSE:CB) Announces Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Chubb (NYSE:CB) issued its earnings results on Tuesday. The financial services provider reported $6.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.58 by $0.24, FiscalAI reports. Chubb had a net margin of 17.36% and a return on equity of 13.15%.

Chubb Price Performance

CB stock traded down $0.78 during midday trading on Tuesday, reaching $329.21. The company had a trading volume of 2,149,147 shares, compared to its average volume of 1,714,742. The company has a market capitalization of $128.47 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.76 and a beta of 0.49. The stock has a 50 day moving average price of $329.13 and a 200-day moving average price of $308.94. Chubb has a 1-year low of $264.10 and a 1-year high of $345.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb’s payout ratio is 15.08%.

Insider Activity at Chubb

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Olivier Steimer sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director directly owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 44,877 shares of company stock valued at $14,885,226 over the last quarter. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Axxcess Wealth Management LLC raised its holdings in Chubb by 114.6% in the 4th quarter. Axxcess Wealth Management LLC now owns 4,762 shares of the financial services provider’s stock valued at $1,486,000 after buying an additional 2,543 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Chubb by 10.3% in the 4th quarter. Corient Private Wealth LLC now owns 446,080 shares of the financial services provider’s stock valued at $129,248,000 after buying an additional 41,562 shares during the last quarter. Royal Capital Wealth Management LLC bought a new stake in Chubb in the fourth quarter valued at approximately $211,000. Blue Sparrow LLC DE bought a new position in shares of Chubb during the 4th quarter worth approximately $9,014,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Chubb by 23.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 100,848 shares of the financial services provider’s stock worth $32,402,000 after buying an additional 19,237 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CB shares. Jefferies Financial Group raised their price target on Chubb from $333.00 to $356.00 and gave the company a “hold” rating in a report on Tuesday, April 7th. Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Citigroup raised their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, BMO Capital Markets lifted their target price on Chubb from $283.00 to $326.00 and gave the stock a “market perform” rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $346.33.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.