Chubb Ltd (NYSE:CB) executive vice president Timothy Alan Boroughs has sold a significant portion of his shares in the company, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on March 20, 2024, involved the sale of 21,000 shares at prices ranging from $258.76 to $259.11 per share, resulting in a total sale value of approximately $5.18 million.
Boroughs, who also holds the title of Chief Investment Officer at Chubb, executed multiple sales on the same day. The first sale consisted of 11,303 shares at an average price of $258.76. Following that, he sold 3,000 shares at an average price of $258.86 and another 590 shares at $258.81 each. Additional sales included 1,554 shares at $259.01 and 3,553 shares at $259.11. The prices reported represent the weighted average sale price for the reported transactions, rounded to the nearest cent.
After these transactions, Boroughs' direct holdings in Chubb Ltd have decreased, although the exact number of shares he retains was not specified for each transaction. It was noted, however, that some of the shares sold were indirectly owned through his wife and a trust.
The transactions come at a time when investors closely monitor insider activity for insights into company performance and executive confidence. Sales of this magnitude can often attract attention from the market, although the reasons behind such sales can vary widely and do not necessarily indicate a negative outlook on the company's future.
Chubb Ltd, a leader in the insurance industry, has not commented on the transactions. Investors and market watchers will be looking for any potential impact these sales might have on the company's stock performance in the coming weeks.
InvestingPro Insights
Amidst the news of Timothy Alan Boroughs' share sale, Chubb Ltd (NYSE:CB) continues to present a solid financial profile in the market. The company's adjusted market capitalization stands at a robust $104.03 billion, reflecting its significant presence in the insurance industry. Investors may find Chubb's P/E ratio noteworthy; at 11.66, it suggests that the company's shares could be valued reasonably relative to its earnings. This is further supported by an adjusted P/E ratio for the last twelve months as of Q4 2023, which is closely aligned at 11.6.
Looking at growth, Chubb has demonstrated a strong revenue increase, with a 16.08% growth in the last twelve months as of Q4 2023, which is an encouraging sign for stakeholders. The company's gross profit margin stands at 27.58% for the same period, indicating a healthy profitability level. Moreover, the company's EBITDA growth is robust at 39.6%, showcasing its operational efficiency and potential for reinvestment.
For those considering an investment in Chubb, the InvestingPro Tips suggest keeping an eye on the company's dividend yield, which currently stands at 1.34%. This, coupled with a dividend growth of 3.61%, could appeal to investors looking for income-generating stocks. Additionally, with the next earnings date approaching on April 23, 2024, potential investors should stay attuned for updates that could influence the company's stock performance.
Chubb's stock has been performing well, with a year-to-date price total return of 13.79% as of the current year, and a striking one-year price total return of 37.02%. This momentum is reflected in the stock's price being at 98.36% of its 52-week high. For a more detailed analysis, including additional InvestingPro Tips, consider subscribing to InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 15 more InvestingPro Tips available for Chubb Ltd, providing a comprehensive outlook for informed investment decisions.
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