Man Group plc Acquires New Position in Chubb Limited $CB

Man Group plc acquired a new stake in Chubb Limited (NYSE:CB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,182 shares of the financial services provider’s stock, valued at approximately $7,899,000.

Other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new stake in shares of Chubb in the 2nd quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chubb in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its holdings in 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 acquiring an additional 49 shares during the period. Frazier Financial Advisors LLC grew its holdings in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC purchased a new position in Chubb in the first quarter worth $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company’s stock.

Chubb Stock Performance

NYSE CB opened at $340.34 on Friday. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a market capitalization of $131.30 billion, a P/E ratio of 12.04, a PEG ratio of 1.64 and a beta of 0.39. The business has a 50 day moving average price of $347.46 and a 200 day moving average price of $333.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the company earned $6.14 earnings per share. Chubb’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. 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 is presently 14.43%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CB. Piper Sandler raised their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Atlantic Securities set a $301.00 price target on shares of Chubb in a report on Wednesday, July 15th. Mizuho increased their price target on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $400.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and an average target price of $361.00.

Chubb Company Profile

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.