Research Analysts Set Expectations for Chubb Limited’s Q1 2023 Earnings (NYSE:CB)

Posted by Defense World Staff on Apr 13th, 2023

Chubb Limited (NYSE:CB – Get Rating) – Investment analysts at Jefferies Financial Group upped their Q1 2023 earnings per share estimates for shares of Chubb in a report issued on Monday, April 10th. Jefferies Financial Group analyst Y. Kinar now forecasts that the financial services provider will post earnings per share of $4.47 for the quarter, up from their previous estimate of $4.35. Jefferies Financial Group has a “Hold” rating and a $221.00 price objective on the stock. The consensus estimate for Chubb’s current full-year earnings is $17.40 per share. Jefferies Financial Group also issued estimates for Chubb’s Q3 2023 earnings at $3.59 EPS, FY2023 earnings at $18.15 EPS, FY2024 earnings at $20.15 EPS and FY2025 earnings at $22.35 EPS.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler lifted their price target on shares of Chubb from $240.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 4th. Atlantic Securities boosted their target price on shares of Chubb from $240.00 to $250.00 in a research note on Wednesday, February 22nd. Barclays upped their price target on shares of Chubb from $255.00 to $256.00 in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on Chubb from $239.00 to $241.00 and gave the company an “overweight” rating in a research note on Friday, March 31st. Finally, BMO Capital Markets assumed coverage on shares of Chubb in a report on Thursday, January 19th. They set a “market perform” rating and a $225.00 target price for the company. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.33.

Chubb Stock Up 0.6 %

CB stock opened at $199.23 on Wednesday. The firm has a market cap of $82.51 billion, a PE ratio of 15.91, a P/E/G ratio of 1.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.35. The firm’s fifty day moving average is $202.28 and its 200 day moving average is $207.77. Chubb has a one year low of $173.78 and a one year high of $231.37.

Chubb (NYSE:CB – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $4.05 earnings per share for the quarter, missing the consensus estimate of $4.22 by ($0.17). Chubb had a return on equity of 12.51% and a net margin of 12.35%. The company had revenue of $11.43 billion for the quarter, compared to analyst estimates of $11.58 billion. During the same period in the prior year, the business posted $3.81 earnings per share.

Institutional Trading of Chubb

Hedge funds and other institutional investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new stake in Chubb during the 4th quarter worth $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Chubb during the fourth quarter worth about $27,000. Hollencrest Capital Management purchased a new position in shares of Chubb during the fourth quarter worth about $30,000. Legend Financial Advisors Inc. increased its position in Chubb by 142.3% in the 4th quarter. Legend Financial Advisors Inc. now owns 189 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 111 shares during the period. Finally, Armstrong Advisory Group Inc. purchased a new stake in Chubb during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 87.12% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 23,871 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $212.18, for a total value of $5,064,948.78. Following the sale, the chief operating officer now directly owns 272,062 shares of the company’s stock, valued at approximately $57,726,115.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Theodore Shasta sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $189.73, for a total value of $189,730.00. Following the completion of the transaction, the director now directly owns 14,488 shares of the company’s stock, valued at $2,748,808.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 23,871 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $212.18, for a total transaction of $5,064,948.78. Following the completion of the transaction, the chief operating officer now owns 272,062 shares in the company, valued at $57,726,115.16. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 10th. Stockholders of record on Friday, March 17th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, March 16th. Chubb’s dividend payout ratio is presently 26.52%.

About Chubb

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Chubb Ltd. operates as a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.