Insider: Barclays chiefs among sellers at three thriving firms

Directors are prevented from trading shares in their companies during the run-up to results. Once the numbers are out, they’re let off the leash. And Barclays (LSE:BARC) top brass wasted no time flogging stock in the outperforming high street bank.

As soon as Barclays had published third-quarter numbers on Thursday, three senior members of staff sold stock worth a combined £1.5 million.

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Senior independent director Brian Gilvary sold 109,404 Barclays shares at 249.5p, netting almost £273,000; Sasha Wiggins, CEO Private Bank and Wealth Management, got rid of 200,000 at 248.2p to bag nearly £500,000; while Group General Counsel Stephen Shapiro sold 300,000 at 248.2p to bank almost £750,000.

Barclays reported third-quarter pre-tax profit of £2.2 billion, 18% higher than the corresponding period and ahead of the £1.97 billion which had been expected, bringing the number to £6.4 billion in the year to date.

Shares in the lender traded at prices not seen since 2015 and, with a gain of over 50% in 2024 so far and more than 80% in the past 12 months, it was perhaps no surprise to see some profit taking following a results day rally.

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Geotechnical engineering company Keller Group (LSE:KLR) has had a great year too. Its shares trade at a record high after more than doubling in value over the past 12 months.

Now, Helen Speakman, wife of chief executive Michael, has taken advantage of the bull run and sold 43,000 Keller shares at 1,632p each. Despite raising over £700,000 from the disposal, Mr Speakman still has an interest in 151,745 shares currently worth £2.5 million.

Investors will be interested to see what management reports in a third-quarter update scheduled for 14 November. Speakman unveiled “outstanding” half-year results in August, with operating profit up 87% despite a modest 5% improvement in revenue. North America led the way with a 62% boost to the bottom line.

And there was selling at housebuilder Galliford Try Holdings (LSE:GFRD) last Tuesday when Vikki Skene trousered £253,000. Offloading 70,000 shares at 361.8p meant a £253,000 windfall for the company’s HR director.

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She was followed on Friday by Gillian Jubb, associated with Ian Jubb, managing director of the building division. She sold 100,000 shares at 361p.

Galliford shares have had a great run in recent years, up 50% already in 2024 and fivefold since this time in 2020.

A rare buyer

But amid all the selling, there’s optimism at Bodycote (LSE:BOY) despite recent share price declines to a two-year low.

On Friday, Danial Dayan’s investment vehicle Dayson Enterprises, spent almost £200,000 on 36,000 Bodycote shares at 547.4p. Dayan was appointed as Bodycote’snon-executive chair in January 2022.

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There was a trading update towards the end of November last year, so one might reasonably expect something similar this time.

In July, the heat treatment and specialist thermal processing firm reported a mixed set of half-year results. A strong performance at its Aerospace & Defence business couldn’t prevent a decline in group revenue. And, while organic profit grew, an impairment charge meant statutory profit halved.