IBJNews

WellPoint insiders sell stock at right time

Back to TopCommentsE-mailPrintBookmark and Share
On The Beat Industry News In Brief

Take the money while it’s there.

That’s what a handful of insiders at WellPoint Inc. decided in the past month as they sold off nearly 150,000 company shares for gains of more than $3 million.

Their timing couldn’t have been better. WellPoint’s shares were up 25 percent during the first eight months of the year, although they seesawed throughout the summer health care debate.

They got a special bump in August after investors concluded President Obama was backing away from plans to create a government-run health insurance plan to compete with WellPoint and its peers.

But after Obama extolled the so-called public plan in a Labor Day speech, health insurers’ share prices fell again.

Among the WellPoint insiders selling was departing executive Randall Lewis. He unloaded more than 71,000 shares after exercising nearly 57,000 stock options, pocketing more than $1.26 million.

Two other WellPoint executives and five company directors sold shares and cashed in stock options to the tune of $1.86 million.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT