Chubb Ltd (CB) Expected to Post Quarterly Sales of $8.42 Billion
Brokerages expect Chubb Ltd (NYSE:CB) to announce sales of $8.42 billion for the current fiscal quarter, Zacks reports. Three analysts have issued 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 reported sales of $8.74 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, October 23rd.
According to Zacks, 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 anticipate that the company will post sales of $32.58 billion, with estimates ranging from $32.28 billion to $33.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Chubb.
Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.06. Chubb had a net margin of 11.53% and a return on equity of 7.41%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.30 billion. During the same period last year, the firm posted $2.50 earnings per share. Chubb’s revenue for the quarter was up 5.6% compared to the same quarter last year.
Shares of CB stock traded down $0.57 on Wednesday, reaching $126.25. The company’s stock had a trading volume of 2,692,847 shares, compared to its average volume of 1,652,850. Chubb has a 1 year low of $123.23 and a 1 year high of $157.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap 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 firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 21st were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.92 annualized dividend and a yield of 2.31%. Chubb’s dividend payout ratio (DPR) is presently 36.36%.
In other news, insider Timothy Alan Boroughs sold 14,971 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 202,794 shares of the company’s stock, valued at approximately $28,263,399.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 227,994 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the completion of the sale, the chief executive officer now directly owns 1,583,326 shares in the company, valued at $222,124,804.54. The disclosure for this sale can be found here. Insiders have sold a total of 243,093 shares of company stock worth $34,089,733 over the last three months. Insiders own 0.44% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Atlantic Trust LLC acquired a new position in shares of Chubb during the 2nd quarter worth approximately $102,000. ELM Advisors LLC acquired a new position in shares of Chubb during the 3rd quarter worth approximately $103,000. Clarus Wealth Advisors acquired a new position in shares of Chubb during the 2nd quarter worth approximately $113,000. FNY Investment Advisers LLC acquired a new position in shares of Chubb during the 2nd quarter worth approximately $127,000. Finally, Edge Wealth Management LLC acquired a new position in shares of Chubb during the 2nd quarter worth approximately $133,000. 85.75% of the stock is currently owned by institutional investors.
Chubb Company Profile
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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