Life insurers reduced their aggregate holdings of Apple stock in 2012, but boosted their investments in Google and BlackBerry, new research shows.
SNL Financial LC published this finding in a new report on insurers’ moves into and out of tech stocks in 2012. The survey — which tracks fund shifts among life, P&C and health insurers collectivel, and by insurance company — is based on recently released statutory data.
The report reveals that life insurers shed 65,919 shares of Apple stock in 2012, the value of their holdings ending the year at $245 million. Similarly, health insurers dumped 16,418 shares of Apple stock last year, the sector’s holdings totaling $102 million.
By contrast, P&C insurers boosted their investment in Apple stock by 59,934 shares, yielding holdings of $970.1 million.