Chubb Ltd (NYSE:CB) – Analysts at Langen Mcalenn lifted their Q4 2017 EPS estimates for shares of Chubb in a report issued on Tuesday. Langen Mcalenn analyst L. Greenberg now anticipates that the financial services provider will post earnings of $2.12 per share for the quarter, up from their previous forecast of $2.06.
Chubb (NYSE:CB) last announced its earnings results on Thursday, October 26th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.11. Chubb had a return on equity of 7.22% and a net margin of 12.15%. The company had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period in the prior year, the company posted $2.88 EPS. Chubb’s quarterly revenue was up 4.6% on a year-over-year basis.
Shares of Chubb (NYSE CB) opened at $147.54 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $67,623.22, a P/E ratio of 17.69, a P/E/G ratio of 1.37 and a beta of 0.96. Chubb has a 52-week low of $127.15 and a 52-week high of $156.00.
A number of institutional investors and hedge funds have recently modified their holdings of CB. WCM Investment Management CA grew its stake in shares of Chubb by 105.1% in the third quarter. WCM Investment Management CA now owns 11,137,460 shares of the financial services provider’s stock worth $1,587,644,000 after purchasing an additional 5,707,734 shares in the last quarter. Sound Shore Management Inc. CT bought a new position in shares of Chubb in the third quarter worth $138,481,000. Vanguard Group Inc. grew its stake in shares of Chubb by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,320,686 shares of the financial services provider’s stock worth $5,134,923,000 after purchasing an additional 838,652 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Chubb by 1,149.7% in the second quarter. Janus Henderson Group PLC now owns 774,960 shares of the financial services provider’s stock worth $112,664,000 after purchasing an additional 712,950 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Chubb by 23.0% in the second quarter. Renaissance Technologies LLC now owns 2,404,461 shares of the financial services provider’s stock worth $349,561,000 after purchasing an additional 449,500 shares in the last quarter. Hedge funds and other institutional investors own 88.19% of the company’s stock.
In related news, EVP Sean Ringsted sold 28,730 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $151.40, for a total transaction of $4,349,722.00. Following the completion of the transaction, the executive vice president now directly owns 171,667 shares in the company, valued at approximately $25,990,383.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Evan G. Greenberg sold 95,761 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value of $13,938,971.16. Following the transaction, the chief executive officer now owns 1,367,229 shares of the company’s stock, valued at $199,013,853.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,282 shares of company stock valued at $21,882,535. 0.43% of the stock is owned by company insiders.
Chubb declared that its board has initiated a stock buyback program on Thursday, December 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.84 dividend on an annualized basis and a yield of 1.92%. Chubb’s payout ratio is currently 34.05%.
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Chubb Company Profile
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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