Wednesday’s Insider Report: Company leaders sell shares of these three dividend stocks

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.

Listed below is a security that has had recent buying activity reported by an insider.

Summit Industrial Income REIT (SMU-UN-T)

On Nov. 12, Larry Morassutti, who sits on the board of trustees, purchased 10,000 units at a cost per unit of $13.47 for an account in which he has indirect ownership (Travi Inc.), increasing this particular account’s position to 3,463,878 units. The cost of this investment exceeded $134,000.

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Listed below are three dividend stocks that have had recent selling activity reported by insiders.

Canadian National Railway Co. (CNR-T)

On Nov. 11, director Edith Holiday divested 2,000 shares at a price per share of US$109.35. Proceeds from the sale totaled over US$218,000, excluding trading fees. After this trade, this specific account held 60,998 shares.

iA Financial Corporation Inc. (IAG-T)

Between Oct. 9-11, Michael Stickney, executive vice-president and chief growth officer, exercised his options, receiving 9,000 shares at a cost per share of $38.48, and sold 9,000 shares at an average price per share of approximately $55.85. Net proceeds exceeded $156,000, not including any associated transaction charges.

President, chief executive officer and director Denis Ricard exercised his options, receiving 4,000 shares at a cost per share of $26.03, and sold 4,000 shares at a price per share of $56.10. Net proceeds totaled over $120,000, excluding any associated transaction fees.

TMX Group Ltd. (X-T)

On Nov. 10-11, chief executive officer John McKenzie exercised his options, receiving 8,671 shares at a cost per share of $50.15, and sold 8,671 shares at an average price per share of approximately $127.09. Net proceeds exceeded $667,000, not including any associated transaction charges.