Chubb (NYSE:CB) Announces Earnings Results, Beats Estimates By $1.98 EPS

Key Points

• Chubb reported an earnings per share (EPS) of $7.49 for the quarter, significantly exceeding analysts' estimates of $5.51 by $1.98.
• The company recently declared a quarterly dividend of $0.97, resulting in an annualized dividend of $3.88 and a yield of 1.4%.
• Chubb's stock moved up to $269.37 following the earnings announcement, with a market capitalization of $107.40 billion.

Chubb (NYSE:CB - Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $7.49 EPS for the quarter, topping analysts' consensus estimates of $5.51 by $1.98, Zacks reports. Chubb had a return on equity of 12.34% and a net margin of 16.08%.

Chubb Price Performance

Shares of CB stock traded up $1.17 during trading hours on Tuesday, hitting $269.37. The stock had a trading volume of 2,850,241 shares, compared to its average volume of 1,793,611. Chubb has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The stock's 50-day moving average price is $277.34 and its two-hundred day moving average price is $280.85. The stock has a market capitalization of $107.40 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 3.02 and a beta of 0.54.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb's payout ratio is 17.12%.

Analyst Upgrades and Downgrades

CB has been the topic of a number of recent analyst reports. Bank of America raised their price target on Chubb from $276.00 to $279.00 and gave the company an "underperform" rating in a report on Monday, October 13th. Wells Fargo & Company raised their price target on Chubb from $267.00 to $277.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on Chubb from $324.00 to $333.00 and gave the company an "outperform" rating in a report on Monday, October 6th. Piper Sandler reissued a "neutral" rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Finally, Wolfe Research raised Chubb to a "strong-buy" rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $305.28.

Insider Activity

In other news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.86% of the company's stock.

Institutional Investors Weigh In On Chubb

Several large investors have recently added to or reduced their stakes in CB. Brighton Jones LLC increased its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after purchasing an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Chubb during the fourth quarter worth $205,000. Woodline Partners LP increased its position in Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock valued at $3,805,000 after acquiring an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock valued at $403,000 after acquiring an additional 175 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock valued at $58,305,000 after acquiring an additional 17,155 shares during the period. 83.81% of the stock is owned by 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 risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.

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