|Company Name||Insperity, Inc.|
On February 11, 2020, after the market closed, Insperity issued a press release announcing its fourth quarter and full year 2019 financial results. Therein, Insperity disclosed that “[t]he average profit per [worksite employee] per month declined from $272 in 2018 to $259 in 2019 on a higher than expected benefits cost trend due to elevated large healthcare claim activity.” Additionally, the Company reported that it had “recently added a new feature” in its health plan so that, beginning in 2020, Insperity will not have financial responsibility for any amount of a participant’s annual claim costs that exceed $1 million.
On this news, Insperity’s share price fell $17.44 per share, or over 19%, to close at $71.64 per share on February 12, 2020, at unusually heavy trading volume.
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