First Insider Purchase In Years At ACE Limited (ACE): Chief Financial Officer Philip Bancroft Boosts 1,773 Shares.


ACE Limited (NYSE:ACE)’s Chief Financial Officer Philip Bancroft purchased 1,773 shares of common stock, at a price of $56.4 per share. The transaction was made pursuant to Rule 16b-3. Mr. Bancroft beneficially owns now 255,829 shares at this $35.45 Billion Market Cap Holding Company. This acquisition is rather peculiar, as insider purchases haven’t been frequent at this company. In fact, last acquisition was made by Director Thomas Neff during Q4 2005, when he bought 225 shares, at an average price of $ 51.17 per share.  Sales, nonetheless, have been active over the course of this year. Director Peter Menikoff sold 1,872 shares, at a price of $102.15 per share, Chairman & Ceo Evan Greenberg sold 94,096, at a price of $94.02 per share during first quarter 2014, and the same Mr. Bancroft sold 18,752 shares at a price of $102.16 per share.

Additionally, Brian Ashford-Russell And Tim Woolley’s Polar Capital has increased its activity at ACE Limited (NYSE:ACE) by 6% over the last reported quarter, owing now 936,588 shares, worth over $92 million, and representing 2.11% of the fund’s Equity Portfolio. Yet the most amazing bet on this company has been made by Levin Capital Strategies, John A. Levin’s fund: it increased its stake at the company by 2320% over the last quarter. It holds now 672,480 shares, valued at more than $66 million, and accounting for 1.11% of the Fund’s equity Portfolio.

Disclosure: None.

Suggested Reading:

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

10 High Paying Seasonal Jobs in America this Holiday Season