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

The Manufacturers Life Insurance Company purchased a new stake in Chubb Limited (NYSE:CB) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 624,385 shares of the financial services provider’s stock, valued at approximately $212,753,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb in the fourth quarter valued at $205,000. Woodline Partners LP lifted its position in Chubb by 13.0% in the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after acquiring an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 175 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after acquiring an additional 17,155 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

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

Chubb Trading Up 1.4%

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

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

Chubb Announces Dividend

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

Wall Street Analyst Weigh In

CB has been the topic of a number of research analyst reports. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. The Goldman Sachs Group upped their target price on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price target on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald lifted their price target on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, HSBC lowered Chubb from a “buy” rating to a “hold” rating and lifted their price target for the stock from $370.00 to $373.00 in a research report on Monday, July 6th. Two investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average 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.