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.
→ The guide may be free, but it is worth much, much more… (From Tradewins)
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.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected].
Before you consider Chubb, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market spreads…and Chubb wasn’t on the list.
Although Chubb currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.