Miracle Mile Advisors LLC Purchases 1,911 Shares of Chubb Limited $CB

Miracle Mile Advisors LLC boosted its position in shares of Chubb Limited (NYSE:CB) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,431 shares of the financial services provider’s stock after acquiring an additional 1,911 shares during the period. Miracle Mile Advisors LLC’s holdings in Chubb were worth $4,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. increased its holdings in shares of Chubb by 93.6% in the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 44 shares during the period. VSM Wealth Advisory LLC purchased a new position in Chubb during the second quarter worth about $32,000. Heartwood Wealth Advisors LLC purchased a new position in Chubb during the third quarter worth about $34,000. Maseco LLP bought a new position in Chubb in the 2nd quarter worth about $35,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb in the 1st quarter valued at about $41,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of Chubb stock opened at $312.25 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $315.08. The company has a fifty day moving average of $297.59 and a 200-day moving average of $284.28. The stock has a market capitalization of $122.89 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 3.56 and a beta of 0.50.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The company had revenue of $16.15 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.72 EPS. Equities research analysts expect 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, January 2nd. Shareholders of record on Friday, December 12th will be given a $0.97 dividend. The ex-dividend date is Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is presently 16.19%.

Analyst Ratings Changes

Several brokerages have recently commented on CB. UBS Group boosted their price objective on Chubb from $292.00 to $298.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Citigroup lifted their target price on shares of Chubb from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. BMO Capital Markets reissued a “market perform” rating and issued a $283.00 price target on shares of Chubb in a report on Thursday, October 23rd. Bank of America lifted their price objective on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a report on Monday, October 13th. Finally, Jefferies Financial Group upped their target price on shares of Chubb from $302.00 to $326.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb presently has an average rating of “Hold” and an average target price of $311.90.

Insider Activity

In other news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the sale, the executive vice president directly owned 60,593 shares in the company, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 10,580 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $296.17, for a total value of $3,133,478.60. Following the transaction, the executive vice president owned 12,660 shares in the company, valued at approximately $3,749,512.20. This represents a 45.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 57,333 shares of company stock valued at $16,629,873. Insiders own 0.77% of the company’s stock.

About Chubb

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.