The Manufacturers Life Insurance Company increased its stake in Chubb Limited (NYSE: BC – Get a rating) by 4.4% during the 3rd quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The company held 731,423 shares of the financial services provider after acquiring an additional 30,594 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.18% of Chubb worth $133,105,000 at the end of the most recent reporting period.
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Several other large investors have also recently bought and sold shares of CB. Enterprise Trust & Investment Co bought a new position in Chubb in Q2 worth around $25,000. Heritage Financial Services LLC acquired a new position in Chubb stock during Q2 worth approximately $29,000. Crewe Advisors LLC acquired a new position in Chubb stock during Q2 worth approximately $32,000. Key Financial Inc increased its position in Chubb shares by 76.2% during the second quarter. Key Financial Inc now owns 178 shares of the financial services provider worth $35,000 after buying 77 more shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in Chubb shares by 36.9% during the second quarter. FinTrust Capital Advisors LLC now owns 215 shares of the financial services provider worth $40,000 after buying 58 additional shares in the last quarter. 87.12% of the shares are held by institutional investors.
Wall Street analysts predict growth
A number of research analysts have published reports on CB shares. Raymond James raised his price target on Chubb shares from $260.00 to $270.00 and gave the stock a “Strong Buy” rating in a Thursday, Oct. 27 research report. MKM Partners raised its price target on Chubb shares from $235.00 to $260.00 and gave the stock a “buy” rating in a Monday, Dec. 5 research report. Morgan Stanley raised its price target on Chubb shares from $216.00 to $220.00 and gave the stock an “equal weight” rating in a Tuesday, November 22 research report. Royal Bank of Canada raised its price target on Chubb shares from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, Dec. 14. Finally, Atlantic Securities upgraded Chubb shares from a “neutral” rating to an “overweight” rating and set a price target of $240.00 for the stock in a Tuesday, November 15 research report. Five investment analysts gave the stock a hold rating, five gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock has an average rating of “moderate buy” and a consensus price target of $242.33.
In other news, Insider John J. Lupica sold 19,051 shares of the company in a trade on Wednesday, November 30. The shares were sold at an average price of $218.59, for a total transaction of $4,164,358.09. Following the completion of the transaction, the insider now owns 131,502 shares of the company, valued at $28,745,022.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In related news, CEO Evan G. Greenberg sold 24,049 shares of the company in a trade on Thursday, October 27. The shares were sold at an average price of $207.91, for a total value of $5,000,027.59. Following completion of the transaction, the CEO now directly owns 570,622 shares of the company, valued at $118,638,020.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, insider John J. Lupica sold 19,051 shares of the company in a trade dated Wednesday, November 30. The shares were sold at an average price of $218.59, for a total transaction of $4,164,358.09. Following the sale, the insider now owns 131,502 shares of the company, valued at $28,745,022.18. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 70,786 shares of the company valued at $14,975,790. Insiders own 0.39% of the shares of the company.
Chubb Stock Performance
Shares of Chubb Stock opened at $219.25 on Friday. Chubb Limited has a fifty-two week low of $173.78 and a fifty-two week high of $230.27. The company has a debt ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $91.00 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.32 and a beta of 0.68. The company’s 50-day moving average price is $217.71 and its two-hundred-day moving average price is $201.53.
Chub (NYSE: BC – Get a rating) last reported results on Tuesday, October 25. The financial services provider reported earnings per share of $3.17 for the quarter, beating analyst consensus estimates of $3.02 by $0.15. Chubb had a net margin of 14.70% and a return on equity of 11.89%. The company posted revenue of $10.75 billion for the quarter, versus analyst estimates of $10.71 billion. In the same quarter last year, the company posted earnings per share of $2.64. The company’s quarterly revenue increased 8.5% year over year. On average, stock analysts expect Chubb Limited to post earnings per share of 15.45 for the current financial year.
Chubb Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, January 6. Shareholders of record on Friday, December 16 received a dividend of $0.83 per share. This represents an annualized dividend of $3.32 and a dividend yield of 1.51%. The ex-dividend date was Thursday, December 15. Chubb’s payout ratio is currently 23.15%.
Chubb Limited provides insurance and reinsurance products worldwide. The Company’s North America Commercial P&C Insurance segment offers commercial property, casualty, workers’ compensation, lump sum policies, risk management, financial lines, marine, construction, environmental, medical, cyber risk, bond and excess insurance; and group accident and sickness insurance to large, medium and small commercial enterprises.
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