Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Chubb Limited shares valued at $3,701,344 were sold by BOROUGHS TIMOTHY ALAN on Mar 20 ’24. At $258.78 per share, BOROUGHS TIMOTHY ALAN sold 14,303 shares. The insider’s holdings dropped to 35,662 shares worth approximately $9.22 million following the completion of this transaction.
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Also, BOROUGHS TIMOTHY ALAN sold 5,697 shares, netting a total of over 1,475,817 in proceeds. Following the sale of shares at $259.05 each, the insider now holds 0 shares.
Before that, Lupica John J had sold 34,464 shares from its account. In a trade valued at $8,923,566, the Vice Chrm, Chubb Group* traded Chubb Limited shares for $258.92 each. Upon closing the transaction, the insider’s holdings decreased to 34,464 shares, worth approximately $33.85 million.
As published in a research note from Citigroup on March 14, 2024, Chubb Limited [CB] has been rated down from a Buy to a Neutral and the price target has been revised to $275 from $238. Analysts at TD Cowen started covering the stock with ‘”a Market perform”‘ outlook in a report released in early January. As of January 08, 2024, Goldman has decreased its “Buy” rating to a “Neutral” for CB. Earlier on December 28, 2023, HSBC Securities initiated its rating. Their recommendation was “a Buy” for CB stock.
Analyzing CB Stock Performance
Over the course of the year, Chubb Limited shares have jumped approximately 14.38%. Shares of the company reached a 52-week high of $260.58 on 03/13/24 and a 52-week low of $222.85 on 01/09/24. A 50-day SMA is recorded $249.41, while a 200-day SMA reached $219.66. Nevertheless, trading volume fell to 1.39 million shares from 2.36 million shares the previous day.
Support And Resistance Levels for Chubb Limited (CB)
According to the 24-hour chart, there is a support level at 257.20, which, if violated, would cause prices to drop to 255.91. In the upper region, resistance lies at 259.19. The next price resistance is at 259.89. RSI (Relative Strength Index) is 62.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 15.55%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Chubb Limited subject to short interest?
Stocks of Chubb Limited saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.16 million shares to 2.55 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.71 million shares. A decline of -6.27% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.58 of the overall float, the days-to-cover ratio (short ratio) decline to 1.58.
