Chubb Ltd (NYSE:CB) President and Chief Operating Officer John W. Keogh has sold a total of $8.75 million worth of company stock, according to a recent filing with the Securities and Exchange Commission. The transactions occurred on May 8th and were disclosed in a Form 4 filing on May 9th.
Keogh disposed of 33,232 common shares at a weighted average price of $251.98, as well as an additional 1,475 shares at an average price of $251.95. These sales were executed in a price range between $251.95 and $251.98 per share, with the exact number of shares sold at each price point available upon request, as noted in the filing's footnotes.
In addition to the sales, Keogh also acquired 34,103 common shares through the exercise of stock options, at a price of $114.78 per share, totaling approximately $3.91 million. This transaction was part of a derivative securities exercise, which involved options that had vested in previous years.
Following these transactions, Keogh's direct holdings in Chubb Ltd decreased, but he still retains a significant number of shares in the company. The Form 4 filing also listed indirect holdings through a daughter's trust, which remained unchanged.
Investors often monitor insider transactions as they provide insights into executives' perspectives on their company's stock value. The sale of a substantial amount of stock by a high-ranking executive like Keogh may attract the attention of current and potential shareholders.
Chubb Ltd, headquartered in Zurich, Switzerland, is a globally recognized provider of insurance products and services. The company's stock is listed on the New York Stock Exchange under the ticker symbol CB.
InvestingPro Insights
As investors digest the news of John W. Keogh's recent stock transactions, a closer look at Chubb Ltd's financial health through InvestingPro real-time metrics may provide a broader context. Currently, the company boasts a robust market capitalization of $102.83 billion, underscoring its significant presence in the insurance sector. The adjusted price-to-earnings (P/E) ratio as of Q1 2024 stands at 11.16, which suggests a reasonable valuation of the company relative to its earnings.
Chubb Ltd's revenue growth remains strong, with a 17.25% increase in the last twelve months as of Q1 2024. This growth momentum is further reflected in the quarterly figures, with a 19.23% revenue increase in Q1 2024. Additionally, the company's gross profit margin during the same period is a healthy 28.16%, indicating efficient cost management and profitability.
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