Mackenzie Financial Corp Has $29.51 Million Stock Holdings in Chubb Limited (NYSE:CB)

Mackenzie Financial Corp lifted its stake in Chubb Limited (NYSE:CB - Free Report) by 51.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,725 shares of the financial services provider's stock after acquiring an additional 33,259 shares during the period. Mackenzie Financial Corp's holdings in Chubb were worth $29,512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Peoples Bank KS bought a new position in shares of Chubb during the first quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb during the first quarter valued at $25,000. North Capital Inc. bought a new position in shares of Chubb during the first quarter valued at $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb during the first quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a report on Friday, April 11th. HSBC cut Chubb from a "buy" rating to a "hold" rating and cut their price objective for the company from $317.00 to $300.00 in a report on Friday. Wells Fargo & Company cut their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Finally, Evercore ISI set a $312.00 price target on Chubb in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $301.50.

Insider Transactions at Chubb

In related news, Director Michael Corbat bought 425 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the transaction, the chief operating officer owned 237,728 shares of the company's stock, valued at $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is currently owned by company insiders.

Chubb Trading Up 0.5%

NYSE:CB traded up $1.36 on Friday, hitting $267.40. 3,214,985 shares of the stock were exchanged, compared to its average volume of 1,821,994. The stock has a market capitalization of $106.61 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 3.03 and a beta of 0.53. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The company's 50-day moving average price is $282.61 and its 200 day moving average price is $282.34.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $5.38 EPS. On average, equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, June 13th. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 17.12%.

Chubb declared that its board has initiated a stock buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

About Chubb

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.