Insider cluster sales are non-material relative to market cap and lack C-suite participation, reducing the signal value. Per the asymmetric calibration, insider sales carry weak predictive power for forward returns — no bearish read-through is warranted. Monitor for any unexpected C-suite sales or a material deterioration in underwriting results at the next earnings print.
Price Chart
Executive Summary
Two HG insiders sold a total of $1.39M in stock over a one-week window. The largest sale ($1.20M) was by Director David A. Brown in two open-market trades at ~$32/share, while Group Treasurer Jonathan Levenson sold $186K at $30.61. Total volume equals ~0.04% of the $3.2B market cap, well below the 0.1% proportionality threshold for materiality.
Key Financial Metrics
Key Facts
- David A. Brown (Director) sold 37,300 shares at $32.1623 on 2026-05-18 and 12,700 shares at $31.8202 on 2026-05-15.
- Jonathan B. Levenson (Group Treasurer) sold 6,100 shares at $30.61 on 2026-05-13.
- Total insider selling value is $1.39M, or ~0.04% of the company's $3.2B market cap.
- No C-suite officers (CEO, CFO, COO) participated in selling; both trades were by a director and a treasurer.
Financial Impact
Total insider sales of $1.39M represent 0.04% of the $3.2B market cap.
Risk Factors
- Company-specific credit or operating event may have motivated the director's sale, though no such event is visible in filings.
- Further insider sales could materialize if the stock appreciates into the mid-$30s.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-HG-1779311332949 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 6w ago | Insider Cluster | $35.26 $34.92 | ▼ −0.96% | ▼ −3.69% | $36.30 (+2.95%) |
May 20, 2026 22w ago | Insider Cluster | $31.86 $31.69 | ▼ −0.53% | ▼ −0.87% | $36.30 (+13.94%) |
May 19, 2026 22w ago | Insider Cluster | $32.39 $31.38 | ▼ −3.12% | ▼ −3.86% | $36.30 (+12.07%) |
May 15, 2026 23w ago | 144 | $32.15 $31.72 | ▼ −1.34% | ▼ −2.92% | $36.30 (+12.91%) |
May 7, 2026 24w ago | 3 | $30.86 $30.49 | ▼ −1.20% | ▼ −1.22% | $36.30 (+17.63%) |
May 5, 2026 25w ago | Insider Cluster | $30.43 $28.63 | ▼ −5.92% | ▼ −10.87% | $36.30 (+19.29%) |
Mar 24, 2026 30w ago | DEFA14A | $29.06 $32.68 | ▲ +12.46% | ▲ +4.60% | $36.30 (+24.91%) |
Feb 25, 2026 34w ago | 8-K | $29.69 $29.22 | ▼ −1.58% | ▲ +4.82% | $36.30 (+22.27%) |
US Market Status
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