Chubb (NYSE:CB) Posts Quarterly Earnings Results, Beats Expectations By $1.19 EPS

Chubb (NYSE:CB) released its earnings results on Tuesday. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19, Zacks reports. Chubb had a return on equity of 12.93% and a net margin of 16.53%.

Chubb Stock Up 0.7%

CB traded up $2.06 on Tuesday, hitting $313.31. 1,836,422 shares of the company were exchanged, compared to its average volume of 1,630,027. The stock’s fifty day moving average is $305.10 and its 200-day moving average is $287.83. Chubb has a 12 month low of $263.14 and a 12 month high of $316.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $123.30 billion, a PE ratio of 13.08, a PEG ratio of 1.99 and a beta of 0.49.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 16.19%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CB shares. Wolfe Research lifted their price target on shares of Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. The Goldman Sachs Group raised shares of Chubb from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $309.00 to $351.00 in a report on Wednesday, January 7th. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $350.00 price objective on Chubb in a report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.00.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 16,375 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $296.45, for a total value of $4,854,368.75. Following the transaction, the insider directly owned 74,225 shares of the company’s stock, valued at $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,635 shares of company stock valued at $9,970,735. 0.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chubb

A number of hedge funds have recently made changes to their positions in the stock. JPL Wealth Management LLC purchased a new position in shares of Chubb in the third quarter worth about $46,000. Imprint Wealth LLC bought a new position in Chubb in the third quarter valued at $99,000. Measured Wealth Private Client Group LLC purchased a new stake in Chubb during the third quarter valued at about $104,000. Revolve Wealth Partners LLC purchased a new position in shares of Chubb in the 4th quarter worth about $205,000. Finally, First Foundation Advisors purchased a new stake in Chubb in the third quarter worth approximately $218,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.