Manning & Napier Advisors LLC Takes Position in Chubb Limited $CB

Manning & Napier Advisors LLC bought a new position in Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 added to or reduced their stakes in the stock. Hyperion Capital Advisors LP bought a new position in shares of Chubb in the 2nd quarter valued at about $339,000. L2 Asset Management LLC purchased a new position in Chubb during the 2nd quarter worth $697,000. Cetera Trust Company N.A purchased a new position in Chubb during the 2nd quarter valued at about $699,000. Aberdeen Wealth Management LLC purchased a new position in shares of Chubb in the 2nd quarter valued at $33,000. Finally, Visionary Wealth Advisors bought a new position in Chubb in the second quarter worth about $401,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CB has been the topic of a number of recent analyst reports. Atlantic Securities set a $301.00 price target on shares of Chubb in a research note on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Evercore restated an “outperform” rating and set a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Barclays set a $387.00 price objective on Chubb in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $361.00.

Insiders Place Their Bets

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction dated 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 owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

Chubb Stock Down 0.8%

Chubb stock opened at $342.90 on Wednesday. The stock has a 50 day moving average of $346.53 and a two-hundred day moving average of $333.79. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $132.29 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.68 and a beta of 0.39.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the company posted $6.14 earnings per share. Chubb’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Announces Dividend

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

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.