Man Group plc acquired a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,182 shares of the financial services provider's stock, valued at approximately $7,899,000.
Several other institutional investors have also modified their holdings of CB. Dunhill Financial LLC acquired a new position in Chubb in the second quarter valued at $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chubb during the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC lifted its holdings in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in shares of Chubb in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 83.81% of the company's stock.
Chubb Price Performance
Shares of NYSE:CB opened at $340.34 on Friday. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The stock has a market capitalization of $131.30 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.64 and a beta of 0.39. The company has a 50-day simple moving average of $347.46 and a 200-day simple moving average of $333.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.
Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business's revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $6.14 earnings per share. On average, analysts predict that Chubb Limited will post 27.49 EPS for the current year.
Chubb Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's dividend payout ratio (DPR) is presently 14.43%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on CB. Weiss Ratings cut Chubb from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday. Citizens Jmp reaffirmed a "market outperform" rating and set a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Citigroup reissued a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, Barclays set a $387.00 target price on shares of Chubb in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $361.00.
View Our Latest Report on CB
Insider Activity at Chubb
In other news, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company's stock.
Chubb Profile
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Free Report)
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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