The Manufacturers Life Insurance Company Invests $212.75 Million in Chubb Limited $CB

The Manufacturers Life Insurance Company acquired a new position in shares of Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 624,385 shares of the financial services provider’s stock, valued at approximately $212,753,000. The Manufacturers Life Insurance Company owned 0.16% of Chubb as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in Chubb during the second quarter worth $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the second quarter valued at $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares during the period. Frazier Financial Advisors LLC raised its holdings in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Chubb Price Performance

CB stock opened at $345.63 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $133.34 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.65 and a beta of 0.39. The business’s 50-day moving average is $346.25 and its two-hundred day moving average is $333.69. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter last year, the business posted $6.14 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company lowered their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. The Goldman Sachs Group lifted their price objective on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Mizuho upped their target price on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $361.00.

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.