By Thomas K. Meakin
It was more than a merry month of May–it was a lusty month. Investors turned their backs on already battered tech issues and literally lusted after insurance stocks! It was great fun for a change.
The 117 stocks we priced surged a remarkable 7.47%. All eight of our industry groups moved up. That eclipsed last year’s noteworthy May advance of 4.97%.
We recorded 91 advances and 25 losses, a win/lose ratio of better than 3.6-to-1.
What Your Peers Are Reading
The Broker group led the way with an advance of 11.63%. Best by far was Clark Bardes, which encored an April fast-forward of 51.76% to $12.90, with a May jump of 57.75% to $20.35.
One analyst says this provider of pension plans to financial institutions is set for a period of rapid earnings growth. That could be behind the move in the stock. However, the recent explosive price action could indicate pre-takeover bid accumulations are behind the surge. Ill keep listening and report.
The Reinsurers, ahead 11.56%, were almost a carbon copy of the Brokers performance-wise. All 10 of the reinsurer stocks advanced.