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

The Manufacturers Life Insurance Company raised its position in Chubb Limited (NYSE:CB) by 23.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 760,701 shares of the financial services provider’s stock after acquiring an additional 143,840 shares during the period. The Manufacturers Life Insurance Company owned about 0.19% of Chubb worth $219,379,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CB. International Assets Investment Management LLC lifted its stake in Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after acquiring an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Chubb by 4,559.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Troy Asset Management Ltd bought a new stake in shares of Chubb during the 2nd quarter worth approximately $106,975,000. Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Chubb during the 2nd quarter worth approximately $93,411,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Chubb by 349.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 463,300 shares of the financial services provider’s stock worth $118,179,000 after purchasing an additional 360,300 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity

In other news, EVP Joseph F. Wayland sold 6,599 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the completion of the transaction, the executive vice president now directly owns 84,101 shares in the company, valued at $24,142,033.06. This trade represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,715 shares of company stock valued at $23,803,540. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

CB opened at $288.51 on Wednesday. The firm has a market cap of $116.30 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 6.65 and a beta of 0.67. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The business’s fifty day moving average is $287.32 and its 200-day moving average is $275.05.

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

Chubb Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price objective on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley upped their price objective on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $287.37.

Chubb Company Profile

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.