Chubb (NYSE:CB) Releases Quarterly Earnings Results, Beats Estimates By $0.34 EPS

Chubb (NYSE:CB) issued its quarterly earnings data on Tuesday. The financial services provider reported $5.38 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34, Briefing.com reports. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same quarter last year, the firm earned $4.92 EPS. Chubb’s quarterly revenue was up 11.8% on a year-over-year basis.

Chubb Stock Performance

Shares of NYSE CB opened at $263.58 on Friday. Chubb has a 12-month low of $198.10 and a 12-month high of $275.41. The company has a market cap of $107.03 billion, a PE ratio of 11.61, a P/E/G ratio of 6.08 and a beta of 0.66. The stock has a 50 day simple moving average of $262.11 and a 200-day simple moving average of $253.11. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.38%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Morgan Stanley dropped their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 price target on shares of Chubb in a research report on Monday, April 1st. JMP Securities boosted their price objective on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Royal Bank of Canada increased their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus price target of $270.05.

Insider Activity at Chubb

In other news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction 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 owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the business’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 sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders have sold a total of 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.

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.