The Most Notable Insider Transactions Reported on Thursday; High Insider Selling at FleetCor Technologies Inc. (FLT)

Several Insiders at Provider of Fuel Cards and Workforce Payment Products Sell Shares

Five different insiders at FleetCor Technologies Inc. (NYSE:FLT) offloaded shares this week, two of whom sold freshly-exercised employee stock options. However, we will have a look at the “information-rich” set of insider trades only, which excludes those trades connected to employee stock options. To start with, Armando Lins Netto, CEO Brazil at FleetCor, sold out his entire stake of 16,003 shares on Tuesday at a price of $167.75 per share. Board member Joseph W. Farrelly offloaded 1,200 shares on Wednesday for $168.73 each, cutting his ownership to 3,224 shares. Last but certainly not least, Chief Executive Officer and President Ronald F. Clarke discarded 100,000 shares on Tuesday, 63,617 shares on Wednesday and 80,000 shares on Thursday. Following these transactions, Mr. Clarke currently holds an ownership of 205,666 shares. All these shares were sold at a weighted average price of $167.37 per share.

The independent global provider of fuel cards, commercial payment and data solutions, stores value solutions, and workforce payment products and services has seen its market value spike by 17% since early January. FleetCor Technologies Inc. (NYSE:FLT)’s consolidated revenues for the three months that ended June 30 were $417.9 million, up 3.3% year-over-year. The increase reflected organic growth in certain payment programs driven by both volume and revenues increases. Thomas Steyer’s Farallon Capital has 1.25 million shares of FleetCor Technologies Inc. (NYSE:FLT) among its holdings as of the end of the second quarter.

Chairman of Axis Capital’s Board Discards Shares

A highly-informed and influential insider at Axis Capital Holdings Limited (NYSE:AXS) unloaded two blocks of shares over the past several days or so. Michael A. Butt, Chairman of the Board, discarded 19,036 shares last Friday and 31,345 shares on Tuesday at prices varying from $57.00 to $57.07 per share. After these transactions, Mr. Butt currently owns around 1.17 million shares of Axis Capital.

The shares of the Bermuda-based global provider of specialty lines insurance and treaty reinsurance products are up by 1% so far this year. Axis Capital Holdings Limited (NYSE:AXS)’s gross premiums written were $1.3 billion in the second quarter, marking an increase of 11% year-on-year. The increase reflects growth of 26% in the reinsurance segment and growth of 3% in the insurance segment. The number of smart money investors from our system invested in Axis Capital fell to 11 from 16 during the June quarter. Richard S. Pzena’s Pzena Investment Management was the largest equity holder of Axis Capital Holdings Limited (NYSE:AXS) within our database, holding 5.32 million shares as of June 30.

Disclosure: None