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How is it possible that the insider and institutional ownership percentages in Stock Investor add up to more than 100 percent

In the Price & Share Statistics data category in Stock Investor, two data points present the percentage of company shares owned by insiders (Insider Ownership %) and institutions (Institutional Ownership %). The way in which these fields are defined means that there can be an overlap between the two. In other words, an institution can also be an insider. For this reason, the percentages for insider and institutional ownership may add up to be more than 100%:

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Reuters, the primary data provider for Stock Investor, defines insiders as officers and directors of the company as well as beneficial owners holding more than 5% of the company’s stock. An institution, on the other hand, is a bank, mutual fund, pension fund, insurance company, or any other institution that tends to trade in large blocks. However, an institution owning more than 5% of a company’s stock is also classified as an insider.