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

Man Group plc cut its holdings in Chubb Limited (NYSE:CB - Free Report) by 80.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,556 shares of the financial services provider's stock after selling 27,153 shares during the period. Man Group plc's holdings in Chubb were worth $1,811,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Nomura Holdings Inc. boosted its holdings in Chubb by 186.3% in the fourth quarter. Nomura Holdings Inc. now owns 20,880 shares of the financial services provider's stock worth $5,769,000 after purchasing an additional 13,587 shares in the last quarter. Nearwater Capital Markets Ltd bought a new stake in Chubb in the fourth quarter worth $9,947,000. NorthRock Partners LLC boosted its holdings in Chubb by 145.0% in the fourth quarter. NorthRock Partners LLC now owns 3,055 shares of the financial services provider's stock worth $844,000 after purchasing an additional 1,808 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Chubb in the fourth quarter worth $981,000. Finally, Minot DeBlois Advisors LLC bought a new stake in Chubb in the fourth quarter worth $1,343,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Piper Sandler upped their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $320.00 price objective on shares of Chubb in a report on Thursday, January 30th. Jefferies Financial Group upped their target price on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company upped their target price on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Two 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $307.53.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now directly owns 77,703 shares of the company's stock, valued at $22,297,652.88. This represents a 11.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer now directly owns 237,728 shares in the company, 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. Over the last 90 days, insiders sold 148,553 shares of company stock worth $43,257,220. 0.86% of the stock is owned by insiders.

Chubb Trading Down 0.3%

CB stock traded down $0.83 during midday trading on Wednesday, reaching $288.90. The company's stock had a trading volume of 891,945 shares, compared to its average volume of 1,760,510. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The stock has a market cap of $115.77 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The business's 50-day simple moving average is $287.92 and its 200-day simple moving average is $281.18.

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

Chubb Increases Dividend

The firm 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 is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.34%. Chubb's dividend payout ratio is presently 18.67%.

Chubb declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors 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.