Independent Director Jane Kenny Sold A Bunch Of Shares In New Jersey Resources

We'd be surprised if New Jersey Resources Corporation (NYSE:NJR) shareholders haven't noticed that the Independent Director, Jane Kenny, recently sold US$350k worth of stock at US$42.20 per share. That sale was 26% of their holding, so it does make us raise an eyebrow.

View our latest analysis for New Jersey Resources

New Jersey Resources Insider Transactions Over The Last Year

In fact, the recent sale by Jane Kenny was the biggest sale of New Jersey Resources shares made by an insider individual in the last twelve months, according to our records. That means that an insider was selling shares at around the current price of US$42.08. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

New Jersey Resources insiders didn't buy any shares over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

For those who like to find hidden gems this free list of small cap companies with recent insider purchasing, could be just the ticket.

Insider Ownership Of New Jersey Resources

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. New Jersey Resources insiders own about US$22m worth of shares. That equates to 0.5% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

What Might The Insider Transactions At New Jersey Resources Tell Us?

An insider sold New Jersey Resources shares recently, but they didn't buy any. And there weren't any purchases to give us comfort, over the last year. Insiders own shares, but we're still pretty cautious, given the history of sales. We're in no rush to buy! So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Every company has risks, and we've spotted 3 warning signs for New Jersey Resources (of which 1 can't be ignored!) you should know about.

But note: New Jersey Resources may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com