Miracle Mile Advisors LLC lifted its position in Chubb Limited (NYSE:CB - Free Report) by 55.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,941 shares of the financial services provider's stock after buying an additional 3,551 shares during the quarter. Miracle Mile Advisors LLC's holdings in Chubb were worth $3,002,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Chubb by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider's stock worth $10,072,097,000 after buying an additional 271,648 shares in the last quarter. FMR LLC raised its stake in Chubb by 0.6% in the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after purchasing an additional 91,892 shares in the last quarter. Capital World Investors raised its stake in Chubb by 1.9% in the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after purchasing an additional 212,889 shares in the last quarter. Capital Research Global Investors raised its stake in Chubb by 1.5% in the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock valued at $2,457,402,000 after purchasing an additional 131,075 shares in the last quarter. Finally, Demars Financial Group LLC raised its stake in Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock valued at $1,481,094,000 after purchasing an additional 5,340,499 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on CB shares. HSBC raised shares of Chubb from a "hold" rating to a "buy" rating and set a $323.00 target price on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group raised their target price on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Barclays lowered their target price on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods lowered their target price on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $307.53.
Get Our Latest Analysis on CB
Insider Transactions at Chubb
In related news, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the sale, the chief executive officer now owns 584,395 shares in the company, valued at $170,321,922.75. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the sale, the chief operating officer now owns 237,728 shares in the company, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,553 shares of company stock worth $40,387,620. Insiders own 0.77% of the company's stock.
Chubb Trading Up 0.8%
CB stock opened at $293.95 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company has a market capitalization of $117.79 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. The company's 50 day moving average price is $287.64 and its two-hundred day moving average price is $281.68.
Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 16.63% and a return on equity of 13.75%. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. As a group, analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.
Chubb Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.32%. Chubb's dividend payout ratio (DPR) is currently 18.67%.
Chubb announced that its board has authorized a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.
About Chubb
(
Free Report)
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.
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