Brokers Set Expectations for Chubb Limited’s Q4 2022 Earnings (NYSE:CB)
Chubb Limited (NYSE:CB – Get Rating) – Equities research analysts at William Blair cut their Q4 2022 EPS estimates for shares of Chubb in a research report issued to clients and investors on Wednesday, July 27th. William Blair analyst A. Klauber now expects that the financial services provider will post earnings of $3.72 per share for the quarter, down from their previous estimate of $3.84. The consensus estimate for Chubb’s current full-year earnings is $14.85 per share. William Blair also issued estimates for Chubb’s Q1 2023 earnings at $4.15 EPS.
Chubb (NYSE:CB – Get Rating) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.57. Chubb had a net margin of 17.36% and a return on equity of 10.65%. During the same period in the prior year, the business posted $3.62 earnings per share.
A number of other research firms also recently commented on CB. Citigroup started coverage on shares of Chubb in a research note on Monday, May 23rd. They set a “neutral” rating and a $209.00 price objective for the company. Royal Bank of Canada reaffirmed a “maintains” rating on shares of Chubb in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Raymond James reaffirmed a “maintains” rating on shares of Chubb in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of Chubb from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.85.
Chubb Trading Up 1.8 %
Shares of CB stock opened at $188.64 on Monday. Chubb has a twelve month low of $168.04 and a twelve month high of $218.99. The firm has a 50-day moving average price of $196.15 and a 200 day moving average price of $202.75. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $79.93 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.27 and a beta of 0.74.
Chubb announced that its Board of Directors has authorized a stock buyback program on Thursday, May 19th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Chubb Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Friday, June 17th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Thursday, June 16th. This is a boost from Chubb’s previous quarterly dividend of $0.80. Chubb’s dividend payout ratio is currently 20.02%.
Insiders Place Their Bets
In other Chubb news, Director Theodore Shasta sold 812 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $209.18, for a total value of $169,854.16. Following the completion of the transaction, the director now owns 15,488 shares in the company, valued at approximately $3,239,779.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John J. Lupica sold 12,004 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $205.41, for a total transaction of $2,465,741.64. Following the completion of the transaction, the insider now directly owns 151,093 shares in the company, valued at approximately $31,036,013.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Theodore Shasta sold 812 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $209.18, for a total value of $169,854.16. Following the transaction, the director now owns 15,488 shares of the company’s stock, valued at $3,239,779.84. The disclosure for this sale can be found here. Insiders sold a total of 141,824 shares of company stock worth $29,574,333 in the last 90 days. 0.39% of the stock is owned by company insiders.
Hedge Funds Weigh In On Chubb
Institutional investors and hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its stake in Chubb by 3.6% during the fourth quarter. First Horizon Advisors Inc. now owns 1,446 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 50 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in Chubb by 4.0% during the first quarter. Prestige Wealth Management Group LLC now owns 1,298 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 50 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its stake in Chubb by 10.1% during the first quarter. Carolinas Wealth Consulting LLC now owns 555 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 51 shares during the last quarter. Williams Jones Wealth Management LLC. increased its position in Chubb by 2.7% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,996 shares of the financial services provider’s stock worth $386,000 after buying an additional 53 shares during the period. Finally, Wambolt & Associates LLC increased its position in Chubb by 3.3% in the first quarter. Wambolt & Associates LLC now owns 1,676 shares of the financial services provider’s stock worth $363,000 after buying an additional 54 shares during the period. 88.86% of the stock is currently owned by hedge funds and other institutional investors.
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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