When I was a juvenile going to meetings in the 1950's this verse was read at group meetings as proof the Jehovah's Witnesses were the ones Jesus loves. They offered examples of Witness people being beat up and tarred and feathered and run out of towns where they set up their recruiting drives with phonograph records and sound cars blasting recordings of Rutherford spewing his hate venom towards the Catholic people.
Later when I read of the history of those riots, I learned they were all staged and provoked so the Witnesses would be beat up in front of waiting cameras and arrested and hauled to jail so Rutherford could have another case to try in the Supreme Court and brag about his court wins in his Watch Tower magazine.
Actually I came to see that the Witness people were/are hated, not because of Jesus's name (which they don't even claim for their own), but they are hated because they are jerks and sphincters. They define religious intolerance, they aggravate people on purpose, they divide families, they discourage pragmatic medical treatment, and they advocate disrespect of the governments of the countries in which they live.
They are dishonest, unethical, mean, and politically dangerous. To claim they are the chosen of the world because they are hated is an insult in the face to all their victims. I don't hate them because of Jesus name, I hate them because they are mean and they act like jerks. GaryB