Chubb (NYSE:CB) Rating Lowered to Underperform at William Blair

Chubb (NYSE:CB) was downgraded by analysts at William Blair from a “market perform” rating to an “underperform” rating in a research note issued on Friday, MarketBeat reports. William Blair also issued estimates for Chubb’s FY2024 earnings at $20.24 EPS.

Other equities research analysts also recently issued research reports about the company. HSBC reissued a “hold” rating and issued a $270.00 price target (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Roth Mkm reissued a “buy” rating and set a $280.00 target price on shares of Chubb in a research report on Wednesday, April 24th. Royal Bank of Canada decreased their price target on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Evercore ISI boosted their price objective on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their target price on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $266.70.

Chubb Trading Down 2.7 %

NYSE CB opened at $255.08 on Friday. Chubb has a 52 week low of $183.71 and a 52 week high of $275.41. The company has a 50 day moving average price of $259.30 and a 200 day moving average price of $248.63. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. The firm has a market cap of $103.58 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 6.29 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.41 earnings per share. As a group, sell-side analysts forecast that Chubb will post 21.15 EPS for the current fiscal year.

Insider Activity at Chubb

In related news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction dated 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 approximately $12,199,649.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Peter C. Enns sold 8,200 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now 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 SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was 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 of the company’s stock, valued at $71,596,589.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,552 shares of company stock worth $12,149,985. 0.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chubb

Several institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Chubb during the fourth quarter worth approximately $957,756,000. Capital Research Global Investors boosted its stake in Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the last quarter. Capital World Investors grew its holdings in shares of Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Chubb in the first quarter valued at about $165,932,000. Finally, Bank of Nova Scotia lifted its stake in shares of Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after buying an additional 518,535 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.