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Starnes Clarke R III: insider trades

Officer at Truist Financial. No open-market purchases and 12 sales not made under a pre-set plan, reported from January 28, 2010 to October 21, 2021.

What happened after Starnes Clarke R III’s sales?

After their sales, the shares moved −5.7% against the index over 12 months on average (a negative figure means selling was the right call); 75% 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 +0.6% +0.2% 50% 8 0.38 0.71 No reliable evidence
Sales, 12 months after the report 12 −5.7% −8.0% 75% 8 −2.64 0.033 Some evidence: seller right
Sales, 12 months after the trade 12 −5.9% −8.1% 75% 8 −3.41 0.011 Some evidence: seller right

“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
Truist Financial TFC Chief Risk Officer012January 28, 2010October 21, 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
October 21, 2021October 19, 2021 TFC Sale $2,345,934 0.0%−16.3%−12.7%
January 26, 2021January 22, 2021 TFC Sale $2,459,816 +11.0%+16.8%+8.0%
February 22, 2018February 21, 2018 TFC Sale $1,253,647 +0.3%−8.8%−8.9%
April 24, 2017April 21, 2017 TFC Sale $2,324,372 +4.7%+14.1%+12.4%
January 25, 2017January 23, 2017 TFC Sale $4,213,730 −11.6%−6.7%−3.5%
August 21, 2015August 19, 2015 TFC Sale $2,713,307 −1.6%−8.2%−8.9%
May 8, 2015May 6, 2015 TFC Sale $984,131 +5.3%−10.3%−10.1%
August 4, 2014July 31, 2014 TFC Sale $2,526,259 −0.9%+3.6%+0.5%
January 23, 2014January 21, 2014 TFC Sale $206,853 −6.4%−17.9%−19.4%
October 25, 2013October 23, 2013 TFC Sale $879,598 +7.0%−4.9%−6.7%
August 3, 2012August 1, 2012 TFC Sale $1,107,750 −9.6%−7.9%−7.3%
January 28, 2010January 26, 2010 TFC Sale $172,842 +8.7%−21.3%−14.1%

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 Starnes Clarke R III traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.