The Manufacturers Life Insurance Company reduced its stake in Chubb Ltd (NYSE:CB) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,565,652 shares of the financial services provider’s stock after selling 309,506 shares during the period. The Manufacturers Life Insurance Company owned about 0.34% of Chubb worth $228,790,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of CB. WCM Investment Management CA boosted its stake in shares of Chubb by 105.1% in the 3rd quarter. WCM Investment Management CA now owns 11,137,460 shares of the financial services provider’s stock valued at $1,587,644,000 after purchasing an additional 5,707,734 shares in the last quarter. APG Asset Management N.V. boosted its stake in shares of Chubb by 247.8% in the 4th quarter. APG Asset Management N.V. now owns 1,678,420 shares of the financial services provider’s stock valued at $204,253,000 after purchasing an additional 1,195,771 shares in the last quarter. Sound Shore Management Inc. CT acquired a new stake in Chubb during the 3rd quarter worth approximately $138,481,000. CI Global Investments Inc. boosted its position in Chubb by 175.1% during the 4th quarter. CI Global Investments Inc. now owns 887,243 shares of the financial services provider’s stock worth $129,653,000 after buying an additional 564,747 shares during the period. Finally, Cornerstone Investment Partners LLC boosted its position in Chubb by 88.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 892,920 shares of the financial services provider’s stock worth $130,482,000 after buying an additional 419,487 shares during the period. Institutional investors own 87.40% of the company’s stock.
In related news, insider Timothy Alan Boroughs sold 18,611 shares of Chubb stock in a transaction on Friday, December 1st. The shares were sold at an average price of $151.22, for a total value of $2,814,355.42. Following the completion of the sale, the insider now owns 201,165 shares of the company’s stock, valued at approximately $30,420,171.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 95,761 shares of Chubb stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the completion of the sale, the chief executive officer now directly owns 1,367,229 shares of the company’s stock, valued at approximately $199,013,853.24. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
Chubb Ltd (CB) opened at $145.28 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb Ltd has a fifty-two week low of $133.52 and a fifty-two week high of $157.50. The stock has a market cap of $67,131.15, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.
Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.86. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.64 billion. Chubb had a net margin of 11.87% and a return on equity of 7.52%. Chubb’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.72 EPS. sell-side analysts forecast that Chubb Ltd will post 10.76 earnings per share for the current year.
Chubb announced that its board has initiated a stock repurchase plan on Thursday, December 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, December 29th were paid a $0.71 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.84 annualized dividend and a dividend yield of 1.95%. Chubb’s dividend payout ratio is currently 34.63%.
Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $153.00 target price on shares of Chubb in a research report on Sunday, October 29th. Zacks Investment Research downgraded shares of Chubb from a “buy” rating to a “sell” rating in a research report on Friday, January 5th. Royal Bank of Canada reiterated a “buy” rating and set a $170.00 target price on shares of Chubb in a research report on Wednesday, January 31st. Bank of America lifted their target price on shares of Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $156.00 target price on shares of Chubb in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $163.92.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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