Chubb Ltd (CB) Expected to Post Quarterly Sales of $7.23 Billion
Equities analysts expect that Chubb Ltd (NYSE:CB) will report $7.23 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Chubb’s earnings, with estimates ranging from $7.19 billion to $7.25 billion. Chubb posted sales of $7.59 billion during the same quarter last year, which suggests a negative year over year growth rate of 4.7%. The business is scheduled to issue its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Chubb will report full-year sales of $7.23 billion for the current fiscal year, with estimates ranging from $30.10 billion to $30.94 billion. For the next financial year, analysts expect that the firm will report sales of $31.39 billion per share, with estimates ranging from $30.08 billion to $32.41 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Chubb.
Chubb (NYSE:CB) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.86. Chubb had a net margin of 11.87% and a return on equity of 7.52%. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same period in the previous year, the firm posted $2.72 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.
In related news, CEO Evan G. Greenberg sold 95,761 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the transaction, the chief executive officer now owns 1,367,229 shares in the company, valued at approximately $199,013,853.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy Alan Boroughs sold 18,611 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $151.22, for a total transaction of $2,814,355.42. Following the transaction, the insider now owns 201,165 shares in the company, valued at approximately $30,420,171.30. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CB. WCM Investment Management CA lifted its position in shares of Chubb by 105.1% during the 3rd quarter. WCM Investment Management CA now owns 11,137,460 shares of the financial services provider’s stock valued at $1,587,644,000 after acquiring an additional 5,707,734 shares during the period. APG Asset Management N.V. lifted its position in shares of Chubb by 247.8% during the 4th quarter. APG Asset Management N.V. now owns 1,678,420 shares of the financial services provider’s stock valued at $204,253,000 after acquiring an additional 1,195,771 shares during the period. Sound Shore Management Inc. CT acquired a new position in shares of Chubb during the 3rd quarter valued at $138,481,000. CI Global Investments Inc. lifted its position in shares of Chubb by 175.1% during the 4th quarter. CI Global Investments Inc. now owns 887,243 shares of the financial services provider’s stock valued at $129,653,000 after acquiring an additional 564,747 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Chubb by 1.5% during the 4th quarter. BlackRock Inc. now owns 30,206,383 shares of the financial services provider’s stock valued at $4,414,057,000 after acquiring an additional 435,621 shares during the period. Institutional investors own 88.54% of the company’s stock.
Shares of Chubb (NYSE:CB) opened at $144.52 on Monday. Chubb has a 1-year low of $131.74 and a 1-year high of $157.50. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The firm has a market cap of $67,090.00, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.
Chubb announced that its board has approved a share buyback plan on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Thursday, December 28th. Chubb’s dividend payout ratio is currently 34.68%.
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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