NU Stock Analyst
In the wake of a banner May and a good June, July was set up to be a down month for insurance stocks. And that was exactly what it was. Further, it was a quiet off-month that scarcely left an imprint on our record book.
Only 45 of the 115 stocks priced made it to the plus column. There were 69 losers and one issue that was unchanged for the month. That works out to a bearish win/lose ratio of roughly 2/3.
Over all, the 115 stocks we followed were down 1.78%, which was slightly worse than the DJIA and S&P 500, but a lot better than the NASDAQ Composite for the month.
Six of the eight industry groups ended in the minus column.
Only the brokers decisively bucked the trend and moved up with an 11.41% gain. Four of the five broker stocks sported plus signs for the month. Behind the double-digit advance was a 35.87% surge in Clark/Bardes Holdings, with a 15.15% assist from Brown & Brown. Marsh & McLennan essentially stayed even for the month as it eased to 100.40 from 101.
The specialists edged up a minimal 0.36% to qualify, just barely, as the second up group.
The largest sector, the 45 p&c companies, almost ended ahead for the month, but didnt quite make it. While 27 p&c stocks moved down in July, the group was still off only 0.76%.
The stocks of a number of companies, where rate increases were having a salutary effect, responded with double-digit advances.