Manning & Napier Advisors LLC Acquires Shares of 8,207 Chubb Limited $CB

Manning & Napier Advisors LLC bought a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, HoldingsChannel reports. The fund bought 8,207 shares of the financial services provider’s stock, valued at approximately $2,817,000.

A number of other institutional investors have also modified their holdings of CB. XXEC Inc. bought a new position in Chubb during the 2nd quarter worth $228,226,000. Berkshire Hathaway Inc lifted its stake in Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after buying an additional 2,916,288 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Chubb during the second quarter valued at $9,913,336,000. State Street Corp grew its position in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after acquiring an additional 68,553 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after acquiring an additional 3,049,987 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction 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 approximately $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Chubb Trading Down 0.8%

Shares of Chubb stock opened at $342.90 on Wednesday. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The firm has a market capitalization of $132.29 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.68 and a beta of 0.39. 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 company’s fifty day moving average price is $346.53 and its two-hundred day moving average price is $333.79.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $6.14 EPS. On average, analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CB. UBS Group upped their price objective on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Barclays set a $387.00 price objective on shares of Chubb in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group upped their target price on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.