This article presents an overview of the 5 Dividend Stocks Insiders Are Selling. For a detailed overview of the 15 such stocks read our article, 10 Dividend Stocks Insiders Are Selling.
5. Atlas Energy Solutions (NYSE:AESI)
Number of Hedge Fund Investors: 19
Texas-based Atlas Energy Solutions (NYSE:AESI) is one of the dividend stocks with recent insider selling. Jeff Allison, EVP, Sales & Marketing, on March 15 sold 1,547 shares of Atlas Energy Solutions (NYSE:AESI) at $22.50 per share. On the same day, John Gregory Turner, President and Chief Financial Officer of Atlas Energy Solutions (NYSE:AESI), sold 3,728 shares of Atlas Energy Solutions (NYSE:AESI) at $22.58 per share. Since March 15 the stock has jumped 2.55%.
In February, Atlas Energy Solutions (NYSE:AESI) increased its dividend by 5%.
4. Macy’s Inc (NYSE:M)
Number of Hedge Fund Investors: 36
Macy’s Inc (NYSE:M) ranks fourth in our list of the dividend stocks with recent insider selling activity. Macy’s Inc (NYSE:M) CEO Jeffrey Gennette on March 22 offloaded 78,567 shares of Macy’s Inc (NYSE:M) at $20.42 per share. Since then through March 27 the stock is down 1.98%.
Out of the 933 funds tracked by Insider Monkey, 36 hedge funds had stakes in Macy’s Inc (NYSE:M) as of the end of the fourth quarter of 2023.
3. L3Harris Technologies Inc (NYSE:LHX)
Number of Hedge Fund Investors: 37
Defense giant L3Harris Technologies Inc (NYSE:LHX) saw insider selling on March 25 when its CEO Chris Kubasik sold 46,258 shares of L3Harris Technologies Inc (NYSE:LHX) at $212.18 per share. Since then the stock is up about 0.43%.
Scott T Mikuen, Senior VP/Secy/Gen Counsel at L3Harris Technologies Inc (NYSE:LHX), also sold 4,655 L3Harris Technologies Inc (NYSE:LHX) shares on March 15 at $212.38 per share. Since this transaction the stock price is almost flat.
Diamond Hill Mid Cap Strategy made the following comment about L3Harris Technologies, Inc. (NYSE:LHX) in its Q3 2023 investor letter:
“L3Harris Technologies, Inc. (NYSE:LHX) is a defense contractor focused primarily on communications, surveillance and electronic warfare. We anticipate the US’s defense budget will be better than expected over the next few years as the Defense Department focuses on preparing for peer-level threats — an area in which LHX’s capabilities fit nicely. We believe there is room for improvement in recent execution — particularly at recently acquired Aerojet Rocketdyne — and we think LHX’s new management team is well-qualified to improve results. We accordingly capitalized on a recent share-price decline to initiate a position at what we consider a compelling valuation.
2. CME Group Inc (NASDAQ:CME)
Number of Hedge Fund Investors: 55
Illinois-based CME Group Inc (NASDAQ:CME) is one of the dividend stocks that recently saw insider selling activity. On March 15, Timothy Francis McCourt, Senior Managing Director and Global Head, Financial and OTC Products at CME Group Inc (NASDAQ:CME), sold 556 shares of CME Group Inc (NASDAQ:CME) at $217.50 per share. Since then the stock is down 0.87%.
L1 Capital International Fund stated the following regarding CME Group Inc. (NASDAQ:CME) in its fourth quarter 2023 investor letter:
“Other changes were relatively small, but targeted. For example, we reduced our investment in CME Group Inc. (NASDAQ:CME) and increased our investment in Intercontinental Exchange, two over-lapping but meaningfully differentiated derivatives exchanges. CME has benefitted from U.S. interest rate volatility and overall is a more defensive business compared to Intercontinental Exchange. We expect Intercontinental Exchange’s mortgage technology business to benefit from lower residential mortgage rates over time.”
1. JPMorgan Chase & Co (NYSE:JPM)
Number of Hedge Fund Investors: 103
JPMorgan Chase & Co (NYSE:JPM) is one of the dividend-paying stocks that recently saw insider selling. On March 25, JPMorgan Chase & Co’s (NYSE:JPM) Chief Information Officer Lori Beer sold 3,920 shares of JPMorgan Chase & Co (NYSE:JPM) at $195.36 per share. Over the past five days the stock has gained about 1.2%.
As of the end of the fourth quarter of 2023, 103 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in JPMorgan Chase & Co (NYSE:JPM).
Carillon Eagle Growth & Income Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its fourth quarter 2023 investor letter:
“PNC Financial and JPMorgan Chase & Co. (NYSE:JPM) performed well due to more benign inflation data, which the market likely interpreted as a sign that a recession is now less likely to occur. Recall that historically speaking, banks are hyper-cyclical stocks and typically will trade lower if investors foresee a recession, because recessions tend to trigger loan losses.”
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