Chubb Limited (NYSE:CB) Shares Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC raised its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 88.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,384 shares of the financial services provider's stock after purchasing an additional 13,802 shares during the period. Manning & Napier Advisors LLC's holdings in Chubb were worth $8,874,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Sunflower Bank N.A. increased its position in shares of Chubb by 4.4% during the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after purchasing an additional 38 shares in the last quarter. Tandem Wealth Advisors LLC increased its position in shares of Chubb by 3.0% during the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider's stock worth $382,000 after purchasing an additional 40 shares in the last quarter. Unison Advisors LLC increased its position in shares of Chubb by 0.3% during the fourth quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider's stock worth $3,742,000 after purchasing an additional 41 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Chubb by 1.6% during the fourth quarter. Lindbrook Capital LLC now owns 2,716 shares of the financial services provider's stock worth $750,000 after purchasing an additional 42 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its position in shares of Chubb by 1.7% during the fourth quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider's stock worth $682,000 after purchasing an additional 42 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh bought 9,810 shares of the company's stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the transaction, the chief operating officer now directly owns 247,538 shares of the company's stock, valued at approximately $72,526,158.62. The trade was a 4.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

Chubb Price Performance

Shares of CB opened at $283.61 on Monday. The business's 50-day moving average is $287.89 and its two-hundred day moving average is $281.53. The company has a market capitalization of $113.65 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.16 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its board has approved a share buyback plan on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a dividend of $0.97 per share. This is an increase from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 13th. Chubb's dividend payout ratio (DPR) is currently 18.67%.

Wall Street Analyst Weigh In

CB has been the topic of several research reports. Morgan Stanley upped their target price on Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price on Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. UBS Group upped their target price on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Piper Sandler upped their target price on Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Chubb presently has a consensus rating of "Moderate Buy" and an average price target of $307.53.

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.

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