Man Group plc Sells 27,153 Shares of Chubb Limited (NYSE:CB)

Man Group plc decreased its holdings in Chubb Limited (NYSE:CB - Free Report) by 80.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,556 shares of the financial services provider's stock after selling 27,153 shares during the quarter. Man Group plc's holdings in Chubb were worth $1,811,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in shares of Chubb in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb in the 4th quarter valued at $29,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after buying an additional 89 shares during the period. Human Investing LLC acquired a new stake in shares of Chubb in the 4th quarter valued at $36,000. Finally, Mainstream Capital Management LLC acquired a new stake in shares of Chubb in the 4th quarter valued at $37,000. Institutional investors own 83.81% of the company's stock.

Chubb Stock Up 1.3%

Shares of Chubb stock traded up $3.61 during trading on Tuesday, reaching $289.71. The stock had a trading volume of 1,661,081 shares, compared to its average volume of 1,610,854. The company has a market capitalization of $116.09 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 3.36 and a beta of 0.57. The stock has a fifty day moving average price of $288.01 and a two-hundred day moving average price of $281.12. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 18.67%.

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

Analyst Ratings Changes

CB has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price objective on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Hsbc Global Res raised Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley lifted their price objective on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $307.53.

Insider Buying and Selling

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the sale, the executive vice president now owns 77,703 shares in the company, valued at $22,297,652.88. This represents a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John W. Keogh sold 85,083 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the sale, the chief operating officer now owns 237,728 shares in the company, valued at $68,998,174.72. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,553 shares of company stock worth $43,257,220. Corporate insiders own 0.86% of the company's stock.

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.