The Manufacturers Life Insurance Company Decreases Stock Holdings in Chubb Limited $CB

The Manufacturers Life Insurance Company reduced its position in shares of Chubb Limited (NYSE:CB) by 7.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 548,090 shares of the financial services provider’s stock after selling 44,655 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Chubb were worth $178,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of Chubb by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after purchasing an additional 5,225 shares in the last quarter. waypoint wealth counsel raised its holdings in Chubb by 76.4% in the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider’s stock worth $1,285,000 after purchasing an additional 1,784 shares in the last quarter. National Pension Service raised its holdings in Chubb by 24.4% in the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock worth $358,462,000 after purchasing an additional 225,515 shares in the last quarter. Harbour Investments Inc. lifted its position in Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock valued at $3,108,000 after buying an additional 8,947 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Chubb by 133.1% during the 4th quarter. Private Trust Co. NA now owns 11,464 shares of the financial services provider’s stock valued at $3,578,000 after buying an additional 6,546 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CB shares. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and upped their price objective for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Wolfe Research raised their target price on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Bank of America lowered their target price on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $360.09.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $363.94 on Wednesday. The business has a fifty day moving average price of $336.80 and a 200-day moving average price of $327.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.36 and a quick ratio of 0.28. The company has a market capitalization of $141.16 billion, a PE ratio of 12.87, a PEG ratio of 1.79 and a beta of 0.40. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $365.29.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the business posted $6.14 EPS. Chubb’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Chubb Limited will post 27.26 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a $1.02 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 12th. Chubb’s payout ratio is currently 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.