Mackenzie Financial Corp Has $19.15 Million Stock Position in Chubb Limited (NYSE:CB)

Mackenzie Financial Corp lowered its position in shares of Chubb Limited (NYSE:CB) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,066 shares of the financial services provider’s stock after selling 1,166 shares during the quarter. Mackenzie Financial Corp’s holdings in Chubb were worth $19,148,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Chubb in the 1st quarter valued at approximately $25,000. Beacon Capital Management LLC increased its position in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares during the period. Chilton Capital Management LLC bought a new position in Chubb during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC bought a new position in Chubb during the 2nd quarter worth $28,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Chubb during the 4th quarter worth $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CB shares. Morgan Stanley decreased their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. JMP Securities lifted their price target on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 24th. Bank of America lifted their price objective on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lifted their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chubb currently has an average rating of “Hold” and a consensus price target of $274.70.

Chubb Trading Down 0.1 %

Shares of Chubb stock opened at $289.57 on Monday. The stock has a fifty day simple moving average of $278.57 and a 200 day simple moving average of $264.72. Chubb Limited has a 12-month low of $204.15 and a 12-month high of $294.18. The company has a market capitalization of $117.58 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter in the previous year, the firm earned $4.92 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s dividend payout ratio is presently 16.16%.

Insider Activity

In other news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock valued at $24,874,208 in the last 90 days. Insiders own 0.86% of the company’s stock.

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.