Insiders have been selling IAG and these ASX shares

Insurance Australia Group Ltd (ASX:IAG) shares are one of three that insiders have been selling this month. Here's what you need to know…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Insider buying is often regarded as a bullish indicator, as few people should know a company better than its own directors.

The theory is that if they have the confidence to buy shares, it could be a sign that things are going well and they expect them to appreciate in value.

Conversely, when directors sell shares it is often regarded as a bearish indicator as you'd be unlikely to sell shares if you felt they were about to increase in value.

With that in mind, here are three shares which have recently experienced notable insider selling:

Insurance Australia Group Ltd (ASX: IAG)

According to a change of director's interest notice, the managing director and chief executive officer of this insurance giant has been selling shares. The notice reveals that Peter Harmer has offloaded a total of 400,000 shares through a series of on-market trades between October 31 and November 5. Mr Harmer received a total of $3,167,699 for the sales or an average of $7.92 per share. This leaves the managing director with 1,221,560 ordinary shares.

Orica Ltd (ASX: ORI)

A change of director's interest notice reveals that the managing director and chief executive officer of this chemicals company has sold shares also. According to the notice, Alberto Calderon sold 70,000 shares through an on-market trade on November 6. Dr Calderon received an average of $23.65 per share, which equates to a total consideration of approximately $1.65 million. The company advised that these shares were "required to be sold to cover Dr Calderon's income tax liability on the FY2017 vested Performance Rights." The managing director still holds 221,208 ordinary shares

Redbubble Ltd (ASX: RBL)

One of this ecommerce company's non‑executive directors has been selling shares recently. According to the notice, non-executive director and former chief executive, Martin Hosking, sold 6 million shares last week for a total consideration of $11.58 million. However, it is worth noting that even after these sales, he still owns approximately 19.6% of the growing company.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Insurance Australia Group Limited. The Motley Fool Australia has recommended REDBUBBLE FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

3 small-cap ASX healthcare shares 'with strong prospects'

Fund manager IML discusses why these 3 ASX healthcare shares are likely to rise in value.

Read more »

Magnifying glass on a rising interest rate graph.
Share Market News

Will the RBA finally cut interest rates next week?

Let's see what economists are saying about the central bank's meeting.

Read more »

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a rough Friday to close the trading week today.

Read more »

a man wearing old fashioned aviator cap and goggles emerges from the top of a cannon pointed towards the sky. He is holding a phone and taking a selfie.
Broker Notes

7 ASX All Ords shares elevated to 'strong buy' status in October

The brokers turned bullish on these ASX companies last month.

Read more »

A businessman compares the growth trajectory of property versus shares.
Share Market News

How ASX shares vs. property performed in October

The national home value rose for the 21st consecutive month while the ASX 200 dipped.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

The worst 3 ASX 200 stocks to buy and hold in October unmasked

You would have done well to avoid these three ASX 200 stocks in October.

Read more »

A female Woolworths customer leans on her shopping trolley as she rests her chin in her hand thinking about what to buy for dinner while also wondering why the Woolworths share price isn't doing as well as Coles recently
52-Week Lows

Why is the Woolworths share price at its lowest point since 2020?

We haven't seen Woolies shares this low since COVID.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why AFT, Amcor, Corporate Travel, and Macquarie shares are falling today

These shares are ending the week in the red. But why?

Read more »