CEO of Trisura unit sells "concerning" amount of shares

CEO of Trisura unit sells “concerning” amount of shares | Insurance Business Canada

Insurance News

CEO of Trisura unit sells “concerning” amount of shares

Equity analysts weigh in

Insurance News

By
Terry Gangcuangco

Simply Wall St has published its analysis of Trisura Group shares that were sold and bought in the past 12 months, and the online resource points to a “concerning” amount offloaded by Trisura Guarantee Insurance president and chief executive Chris Sekine.

According to equity analysts at Simply Wall St, insider transactions at the group amounted to 39.80k shares bought and 79.55k shares sold.

In its report released over the weekend, Simply Wall St said: “We wouldn’t blame Trisura Group Ltd. shareholders if they were a little worried about the fact that Chris Sekine, the president and CEO of Trisura Guarantee Insurance, recently netted about $2.1 million selling shares at an average price of $42.04.

According to Simply Wall St’s tracking, Sekine’s recent sale was the biggest offloading of Trisura shares made by an insider individual in the past year.

“That means that an insider was selling shares at around the current price of $41.43,” it reported. “We generally don’t like to see insider selling, but the lower the sale price, the more it concerns us.

“We note that this sale took place at around the current price, so it isn’t a major concern, though it’s hardly a good sign.”

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