Chubb Ltd (NYSE:CB) Executive Vice President and Chief Financial Officer Peter C. Enns has sold a total of 8,200 shares of the company's stock, according to a recent SEC filing. The transactions occurred on June 20, 2024, and amounted to over $2.18 million in value.
The shares were sold at prices ranging from $263.92 to $267.29. The exact prices at which the shares were sold varied within this range, with the reported numbers representing weighted average prices rounded to the nearest cent. The filing indicated a commitment by Enns to provide further details about the number of shares sold at each price point upon request.
Following the sale, Enns still owns a significant number of shares in Chubb Ltd. The SEC filing revealed that after the transactions, his direct ownership in the company's common shares stood at 45,853.
The sale comes at a time when Chubb Ltd continues to be a significant player in the fire, marine, and casualty insurance industry. Investors often watch insider transactions closely as they can provide insights into executives' perspectives on the company's current valuation and future prospects.
Chubb Ltd's stock is publicly traded on the New York Stock Exchange under the ticker symbol CB. As with all insider transactions, the details of the sales are publicly disclosed to ensure transparency and maintain fair markets.
In other recent news, Chubb Corporation (NYSE:CB) experienced significant changes in analyst ratings and financial performances. BofA Securities upgraded Chubb's rating from Underperform to Neutral and raised the price target from $244 to $266, anticipating a higher investment yield. Meanwhile, Keefe, Bruyette & Woods and RBC Capital both revised their price targets for the company, maintaining Outperform ratings despite adjustments in their earnings per share estimates.
Chubb's shareholders approved a 5.8% increase in the annual dividend, marking the 31st consecutive year of dividend growth. This decision, made during the company's 2024 Annual General Meeting, sets the new dividend rate at $3.64 per share annually.
Regarding financial performance, Chubb reported robust growth in core operating income, premium revenue, and underwriting income in its recent earnings report. The company also showcased significant growth in its property and casualty underwriting income, investment income, and life insurance income.
These developments highlight Chubb's strong financial performance and the growing confidence of analysts in the company's investment potential. As always, investors are advised to consider these recent developments alongside their own research and investment strategy.
InvestingPro Insights
In light of the recent insider transactions at Chubb Ltd (NYSE:CB), current and potential investors may find the following data from InvestingPro particularly useful to gauge the company's financial health and market position. Chubb's adjusted market capitalization stands at a robust $111.03 billion, reflecting the company's significant presence in the insurance industry.
The company's Price to Earnings (P/E) ratio, as of the last twelve months leading up to Q1 2024, is 12.06. This metric can offer insights into the market's valuation of the company's earnings relative to its share price. Additionally, Chubb's Price to Book (P/B) ratio during the same period is 1.83, which might suggest that the stock is reasonably valued in terms of its assets and liabilities.
Investors might also note Chubb's impressive revenue growth of 17.25% in the last twelve months as of Q1 2024, which could be indicative of the company's ability to expand its market share and increase profitability. Moreover, the company's dividend yield as of June 2024 stands at 1.38%, coupled with a dividend growth of 9.64% over the last twelve months, signaling a potentially attractive return for income-focused investors.
For those looking to delve deeper into Chubb Ltd's financials and market performance, InvestingPro offers additional insights and metrics. There are 5 more InvestingPro Tips available that can provide a more comprehensive understanding of Chubb's investment potential. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and enhance your investment strategy with valuable, real-time data.
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