Wall Street brokerages expect Chubb Ltd (NYSE:CB) to announce sales of $8.42 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Chubb’s earnings, with the lowest sales estimate coming in at $8.36 billion and the highest estimate coming in at $8.46 billion. Chubb posted sales of $8.74 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 3.7%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 23rd.
On average, analysts expect that Chubb will report full-year sales of $31.48 billion for the current financial year, with estimates ranging from $31.31 billion to $31.71 billion. For the next financial year, analysts forecast that the firm will post sales of $32.58 billion, with estimates ranging from $32.28 billion to $33.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Chubb.
Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.06. Chubb had a return on equity of 7.41% and a net margin of 11.53%. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.30 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on the company. ValuEngine upgraded Chubb from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Zacks Investment Research upgraded Chubb from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Goldman Sachs Group lowered Chubb from a “buy” rating to a “neutral” rating and set a $167.00 price target on the stock. in a research note on Monday, June 18th. Wells Fargo & Co restated a “buy” rating and set a $169.00 price target on shares of Chubb in a research note on Wednesday. Finally, Citigroup dropped their price target on Chubb from $157.00 to $151.00 and set a “buy” rating on the stock in a research note on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Chubb currently has a consensus rating of “Hold” and a consensus price target of $159.45.
CB traded down $0.57 on Wednesday, hitting $126.25. The company had a trading volume of 2,692,847 shares, compared to its average volume of 1,652,850. Chubb has a 12-month low of $123.23 and a 12-month high of $157.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $61.91 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 21st were given a $0.73 dividend. The ex-dividend date was Thursday, September 20th. This represents a $2.92 dividend on an annualized basis and a yield of 2.31%. Chubb’s dividend payout ratio is currently 36.36%.
In other Chubb news, CEO Evan G. Greenberg sold 227,994 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $140.29, for a total value of $31,985,278.26. Following the completion of the transaction, the chief executive officer now directly owns 1,583,326 shares of the company’s stock, valued at $222,124,804.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Alan Boroughs sold 14,971 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $139.37, for a total value of $2,086,508.27. Following the completion of the transaction, the insider now directly owns 202,794 shares of the company’s stock, valued at $28,263,399.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,093 shares of company stock worth $34,089,733. 0.44% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Silvercrest Asset Management Group LLC raised its stake in shares of Chubb by 1.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 43,293 shares of the financial services provider’s stock worth $5,921,000 after buying an additional 779 shares during the period. United Capital Financial Advisers LLC raised its stake in shares of Chubb by 6.8% during the 1st quarter. United Capital Financial Advisers LLC now owns 132,216 shares of the financial services provider’s stock worth $18,083,000 after buying an additional 8,391 shares during the period. Mariner LLC raised its stake in shares of Chubb by 14.3% during the 1st quarter. Mariner LLC now owns 25,762 shares of the financial services provider’s stock worth $3,523,000 after buying an additional 3,228 shares during the period. Aristotle Capital Management LLC raised its stake in shares of Chubb by 3.4% during the 1st quarter. Aristotle Capital Management LLC now owns 2,193,763 shares of the financial services provider’s stock worth $300,041,000 after buying an additional 71,970 shares during the period. Finally, Glenview Trust Co raised its stake in shares of Chubb by 171.0% during the 1st quarter. Glenview Trust Co now owns 63,383 shares of the financial services provider’s stock worth $8,669,000 after buying an additional 39,991 shares during the period. 85.75% of the stock is owned by institutional investors.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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