The Manufacturers Life Insurance Company Sells 44,655 Shares of Chubb Limited $CB

The Manufacturers Life Insurance Company trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 548,090 shares of the financial services provider’s stock after selling 44,655 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.14% of Chubb worth $178,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CB. CBIZ Investment Advisory Services LLC increased its position in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC raised its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC bought a new stake in Chubb during the first quarter valued at approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in Chubb during the fourth quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC purchased a new position in Chubb in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock opened at $363.94 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.36. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $365.29. The company has a fifty day moving average of $336.80 and a 200-day moving average of $327.92. The stock has a market capitalization of $141.16 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.79 and a beta of 0.40.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.14 EPS. Equities research analysts expect that Chubb Limited will post 27.26 EPS for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s payout ratio is 14.43%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CB shares. Barclays set a $387.00 price target on shares of Chubb in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Cantor Fitzgerald upped their target price on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company reduced their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Finally, Evercore restated an “outperform” rating and set a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $360.09.

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.