{"scope": "industry", "title": "Investment Banking & Investment Services", "sector": "Financials", "industry": "Investment Banking & Investment Services", "intelligence": {"score": 44, "label": "Balanced insider tape", "tone": "neutral", "stance": "Wait for clearer clustering", "brief": "Acquisition and disposal evidence is mixed after low-information compensation and derivative activity is separated out.", "confidence": 61, "confidence_label": "Developing", "filings": 25, "companies": 2, "insiders": 12, "signal_events": 16, "acquisition_events": 4, "disposal_events": 12, "acquisition_share": 25.0, "disposal_share": 75.0, "acquisition_value": 6118165.83, "disposal_value": 20013106.43, "net_value": -13894940.6, "acquisition_value_label": "$6.1M", "disposal_value_label": "$20.0M", "net_value_label": "-$13.9M", "data_quality": 64, "priced_common_share": 64, "latest_date": "2026-07-30", "latest_signal_date": "2026-07-09", "oldest_date": "2026-06-01", "evidence_classes": [{"key": "common_equity", "label": "Common equity", "count": 16, "bar_width": 100.0}, {"key": "equity_award", "label": "Equity compensation", "count": 7, "bar_width": 43.8}, {"key": "derivative", "label": "Options and derivatives", "count": 2, "bar_width": 12.5}, {"key": "other", "label": "Other securities", "count": 0, "bar_width": 0.0}], "roles": [{"label": "Director", "count": 12, "bar_width": 100.0}, {"label": "CEO and chair", "count": 6, "bar_width": 50.0}, {"label": "Other executive", "count": 6, "bar_width": 50.0}, {"label": "Finance leadership", "count": 1, "bar_width": 8.3}], "supports": ["4 distinct acquisition events survive duplicate and security-type controls.", "Participation spans 12 named insiders rather than one filing source."], "risks": ["Qualifying disposal events outnumber acquisitions, although disposals receive a lower directional weight.", "The group read is concentrated in very few companies.", "The latest qualifying filing is more than 30 days old."]}, "timeline": [{"start": "2026-05-25", "label": "25 May", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-01", "label": "01 Jun", "acquisitions": 1, "disposals": 0, "qualified_acquisitions": 1, "qualified_disposals": 0, "total": 1, "height": 12.5, "acquisition_height": 100.0, "disposal_height": 0.0}, {"start": "2026-06-08", "label": "08 Jun", "acquisitions": 2, "disposals": 6, "qualified_acquisitions": 2, "qualified_disposals": 4, "total": 8, "height": 100.0, "acquisition_height": 25.0, "disposal_height": 75.0}, {"start": "2026-06-15", "label": "15 Jun", "acquisitions": 1, "disposals": 0, "qualified_acquisitions": 1, "qualified_disposals": 0, "total": 1, "height": 12.5, "acquisition_height": 100.0, "disposal_height": 0.0}, {"start": "2026-06-22", "label": "22 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-29", "label": "29 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-06", "label": "06 Jul", "acquisitions": 0, "disposals": 8, "qualified_acquisitions": 0, "qualified_disposals": 8, "total": 8, "height": 100.0, "acquisition_height": 0.0, "disposal_height": 100.0}, {"start": "2026-07-13", "label": "13 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-20", "label": "20 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-27", "label": "27 Jul", "acquisitions": 7, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 7, "height": 87.5, "acquisition_height": 100.0, "disposal_height": 0.0}, {"start": "2026-08-03", "label": "03 Aug", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-08-10", "label": "10 Aug", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}], "peers": [{"label": "Investment Holding Companies", "score": 72, "confidence": 20}, {"label": "Investment Banking & Investment Services", "score": 44, "confidence": 61}, {"label": "Insurance", "score": 22, "confidence": 42}], "leaders": {"constructive": [{"symbol": "MGR", "name": "Affiliated Managers Group, Inc.", "score": 61, "confidence": 64}], "cautious": [{"symbol": "HCXY", "name": "Hercules Capital, Inc.", "score": 29, "confidence": 82}], "active": [{"symbol": "HCXY", "name": "Hercules Capital, Inc.", "score": 29, "confidence": 82}, {"symbol": "MGR", "name": "Affiliated Managers Group, Inc.", "score": 61, "confidence": 64}]}, "method": "Group reads measure breadth and conviction across controlled company-level insider evidence; they are classifications, not forecasts."}