The Manufacturers Life Insurance Company Acquires 143,840 Shares of Chubb Limited (NYSE:CB)

The Manufacturers Life Insurance Company boosted its holdings in Chubb Limited (NYSE:CB) by 23.3% in the third quarter, HoldingsChannel reports. The firm owned 760,701 shares of the financial services provider’s stock after purchasing an additional 143,840 shares during the period. The Manufacturers Life Insurance Company’s holdings in Chubb were worth $219,379,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its holdings in Chubb by 0.5% in the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 40 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Chubb by 1.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 40 shares in the last quarter. LVW Advisors LLC increased its holdings in Chubb by 0.3% in the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after purchasing an additional 40 shares in the last quarter. Wealth Effects LLC increased its holdings in Chubb by 3.0% in the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 40 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its stake in Chubb by 1.1% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,706 shares of the financial services provider’s stock valued at $1,069,000 after acquiring an additional 40 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Up 0.7 %

CB stock opened at $288.51 on Wednesday. The stock’s fifty day simple moving average is $287.32 and its two-hundred day simple moving average is $275.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1-year low of $216.90 and a 1-year high of $302.05. The stock has a market cap of $116.30 billion, a P/E ratio of 11.81, a P/E/G ratio of 6.65 and a beta of 0.67.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.95 earnings per share. Analysts expect that Chubb Limited will post 21.77 EPS for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s payout ratio is presently 14.91%.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The trade was a 4.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock worth $23,803,540 over the last ninety days. 0.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CB has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JMP Securities raised their price objective on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised their price objective on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, Barclays initiated coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $287.37.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.