The Manufacturers Life Insurance Company Buys 2,735 Shares of Chubb Limited $CB

Key Points

• The Manufacturers Life Insurance Company increased its stake in Chubb Limited by 0.5% to a total of 593,302 shares, valued at approximately $179.17 million.
• Chubb reported earnings of $6.14 per share for the recent quarter, surpassing expectations and indicating a year-over-year revenue growth of 6.3% to $14.20 billion.
• The company announced a quarterly dividend of $0.97 per share, with an annualized yield of 1.4%, and is set to repurchase up to $5 billion of its own shares, signaling confidence in its stock value.

The Manufacturers Life Insurance Company raised its position in shares of Chubb Limited (NYSE:CB - Free Report) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,302 shares of the financial services provider's stock after acquiring an additional 2,735 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.15% of Chubb worth $179,171,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Chubb by 42.3% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 1,276 shares of the financial services provider's stock worth $385,000 after acquiring an additional 379 shares during the period. WPG Advisers LLC bought a new stake in shares of Chubb during the first quarter worth $33,000. Wealth Preservation Advisors LLC bought a new stake in Chubb during the 1st quarter worth about $103,000. Transamerica Financial Advisors LLC raised its position in shares of Chubb by 28.0% during the 1st quarter. Transamerica Financial Advisors LLC now owns 1,441 shares of the financial services provider's stock valued at $435,000 after acquiring an additional 315 shares during the last quarter. Finally, Delta Investment Management LLC increased its holdings in Chubb by 18.0% in the first quarter. Delta Investment Management LLC now owns 2,135 shares of the financial services provider's stock valued at $645,000 after purchasing an additional 326 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CB. Piper Sandler reiterated a "neutral" rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a research note on Wednesday, August 13th. HSBC cut Chubb from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Chubb currently has an average rating of "Hold" and a consensus price target of $302.00.

Chubb Trading Up 0.5%

Chubb stock traded up $1.25 during mid-day trading on Wednesday, hitting $278.06. The company's stock had a trading volume of 1,110,211 shares, compared to its average volume of 1,782,346. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The business has a 50 day moving average price of $275.30 and a 200-day moving average price of $282.91. The stock has a market cap of $110.86 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56.

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

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb's dividend payout ratio (DPR) is currently 17.12%.

Chubb announced that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

Chubb 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.