William Blair Lowers Chubb (NYSE:CB) to Underperform

William Blair lowered shares of Chubb (NYSE:CB) from a market perform rating to an underperform rating in a research report report published on Friday, MarketBeat Ratings reports. William Blair also issued estimates for Chubb’s FY2024 earnings at $20.24 EPS.

CB has been the topic of a number of other reports. Roth Mkm reaffirmed a buy rating and issued a $280.00 target price on shares of Chubb in a research note on Wednesday, April 24th. JPMorgan Chase & Co. raised their price objective on Chubb from $253.00 to $266.00 and gave the company a neutral rating in a research report on Monday, April 8th. Morgan Stanley raised their price objective on Chubb from $258.00 to $260.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods lowered their price target on Chubb from $297.00 to $294.00 and set an outperform rating for the company in a research report on Tuesday, May 7th. Finally, StockNews.com lowered Chubb from a buy rating to a hold rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb currently has an average rating of Hold and an average target price of $266.70.

Chubb Price Performance

CB opened at $255.08 on Friday. The firm has a market cap of $103.58 billion, a P/E ratio of 11.32, a PEG ratio of 6.12 and a beta of 0.66. The firm has a 50-day moving average of $259.30 and a 200 day moving average of $248.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. Chubb has a fifty-two week low of $183.71 and a fifty-two week high of $275.41.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $4.41 earnings per share. On average, research analysts expect that Chubb will post 21.03 EPS for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.91 per share. The ex-dividend date is Friday, June 14th. This is an increase from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.43%. Chubb’s payout ratio is 16.16%.

Insiders Place Their Bets

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the sale, the chief accounting officer now owns 7,718 shares in the company, valued at approximately $2,036,085.58. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock worth $12,149,985 in the last three months. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chubb

Several hedge funds have recently bought and sold shares of the business. Bard Financial Services Inc. boosted its position in Chubb by 3.7% during the first quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 40 shares in the last quarter. Rossmore Private Capital raised its position in Chubb by 1.6% during the fourth quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 41 shares in the last quarter. Equitable Trust Co. raised its position in Chubb by 1.4% during the first quarter. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock valued at $774,000 after acquiring an additional 41 shares in the last quarter. MCF Advisors LLC grew its holdings in Chubb by 4.2% in the fourth quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 42 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its holdings in Chubb by 11.1% in the first quarter. Newbridge Financial Services Group Inc. now owns 422 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 42 shares during the period. Institutional investors own 83.81% of the company’s stock.

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.