Technical and fundamental analysis of insurance stock prices on the Indonesian Stock Exchange (2018–2022)
Purpose: This study was conducted to determine the influence of fundamental (ROA, TATO, DER, NPM, and EPS) and technical (past share price, share volume, and past share volume) variables on share prices. in insurance companies listed on the IDX.
Method: This study uses secondary data in the form of panel data, namely a combination of time series data for quarterly periods for five years, namely 2018-2022 and cross-sectional data from 11 insurance companies on the Indonesia Stock Exchange. The relationship between the research variables was tested using a panel data regression analysis.
Results: The t-test results from the fixed effects model show that TATO and DER have a positive and significant influence on stock prices. ROA, NPM, and EPS do not significantly influence share prices. Past share prices and share volume have a significant positive influence on stock prices, whereas past share volume has a significant negative influence on share prices. The F-test results from the fixed effects model show that there is a significant influence of the independent variables, namely fundamental and technical variables, on stock prices.
Limitations: This study only analyzes insurance companies (other than reinsurance) listed on the IDX from to 2018-2022, issue quarterly financial reports continuously from to 2018-2022, and have never been delisted during that period.
Contribution: The contribution of this research is that it considers investors in making investment decisions, especially in selecting insurance company shares.