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Wilbur Norman G: insider trades

Director at Security National Financial Corp. No open-market purchases and 14 sales not made under a pre-set plan, reported from November 1, 2012 to February 2, 2021.

What happened after Wilbur Norman G’s sales?

After their sales, the shares moved −21.6% against the index over 12 months on average (a negative figure means selling was the right call); 83% trailed it.

With 296 insiders tested, some will look skilled or unskilled by chance alone: when we replaced each insider’s stocks with random companies bought on the same days, about 5.7 cleared the bar ahead and 23.3 behind. One record on its own proves little.

Trade by trade

MeasuredTrades countedAverage vs S&P 500MedianWent the right wayYearst-statisticp-valueEvidence
Purchases, 3 months after the report 0 — — — — — — Not enough years
Purchases, 6 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the trade 0 — — — — — — Not enough years
Sales, 3 months after the report 12 +10.9% +0.4% 50% 7 0.88 0.41 No reliable evidence
Sales, 12 months after the report 12 −21.6% −12.9% 83% 7 −2.67 0.037 Some evidence: seller right
Sales, 12 months after the trade 11 −24.3% −16.3% 91% 6 −2.37 0.064 No reliable evidence

“Average vs S&P 500” is the stock’s return including dividends minus the index’s over the same dates, from the close on the first trading day after the report, or from the close on the trade date. Only windows that have finished are counted. For sales, a negative figure means the stock lagged after it was sold, so selling was the right call (green). “Went the right way” is the share of purchases that beat the index, or of sales that trailed it. The t-statistic uses one average per year of reports, because one person’s trades bunch into the same stock and weeks, and needs trades in at least four different years; the p-value comes from the t distribution with that number of years (with four years, a t of 2 has p = 0.14). “Some evidence” means p under 5%, “strong evidence” p under 1% over at least six years.

Companies traded

CompanyTitle on the latest filingPurchasesSalesFirst reportLatest report
Security National Financial Corp SNFCA —014November 1, 2012February 2, 2021

Trades and what followed

Moves are against the S&P 500; green means the trade went the insider’s way.

ReportedTradedCompanyTradeValue3 months after report12 months after report12 months after trade
February 2, 2021January 15, 2021 SNFCA Sale $41,124 −18.2%−9.7%−18.1%
April 19, 2019April 17, 2019 SNFCA Sale $38,295 −1.9%+1.1%−0.3%
September 14, 2018September 14, 2018 SNFCA Sale $20,944 +11.3%−10.8%−10.9%
October 12, 2016October 10, 2016 SNFCA Sale $17,490 +2.9%−37.6%−33.4%
February 3, 2016February 1, 2016 SNFCA Sale $13,296 −23.0%+1.0%+7.0%
October 20, 2015October 9, 2015 SNFCA Sale $19,420 +1.5%−4.5%−16.3%
May 1, 2015April 29, 2015 SNFCA Sale $11,580 +34.1%−15.0%−15.7%
April 17, 2015April 7, 2015 SNFCA Sale $25,724 +35.4%−5.8%−9.7%
April 7, 2014April 3, 2014 SNFCA Sale $10,136 not yetnot yetnot yet
February 25, 2014January 30, 2014 SNFCA Sale $14,316 not yetnot yetnot yet
August 27, 2013August 23, 2013 SNFCA Sale $21,045 −31.7%−40.7%−39.7%
July 2, 2013June 27, 2013 SNFCA Sale $19,530 −0.7%−46.7%−51.1%
March 12, 2013January 16, 2013 SNFCA Sale $38,970 −11.9%−68.0%−79.5%
November 1, 2012October 12, 2011 SNFCA Sale $11,568 +132.6%−22.3%not yet

Open-market purchases and sales of at least $10,000 in companies we cover, from SEC Form 4 filings; sales made under a pre-set Rule 10b5-1 plan are not shown. “Not yet” means the window has not finished or the share price was under $5 at entry. These are the shares’ moves after each trade: they say nothing about why Wilbur Norman G traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.