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Top Buys by Top Brass: Executive Vice President Brandon's $1.6M Bet on Y

By Market News Video Staff, Monday, February 4, 10:58 AM ET
Play Video: One Reason For Insiders to Buy


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A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $1.6M invested across 6 purchases by Joseph Patrick Brandon, Executive Vice President at Alleghany Corp. (NYSE:Y).

Brandon bets big on Y:

Purchased Insider Title Shares Price/Share Value
08/15/2012 Joseph Patrick Brandon Executive Vice President 600 $336.86 $202,117.95
08/17/2012 Joseph Patrick Brandon Executive Vice President 600 $335.09 $201,053.00
08/22/2012 Joseph Patrick Brandon Executive Vice President 500 $333.70 $166,850.00
08/27/2012 Joseph Patrick Brandon Executive Vice President 1,506 $330.98 $498,449.00
08/30/2012 Joseph Patrick Brandon Executive Vice President 1,000 $334.25 $334,247.00
08/31/2012 Joseph Patrick Brandon Executive Vice President 500 $336.13 $168,064.85

Brandon's average cost works out to $333.78/share. Shares of Alleghany Corp. were changing hands at $365.00 at last check, trading up about 0.1% on Monday. The chart below shows the one year performance of Y shares, versus its 200 day moving average:

Alleghany Corp. Chart

Looking at the chart above, Y's low point in its 52 week range is $296.17 per share, with $367.78 as the 52 week high point that compares with a last trade of $365.00.

According to the ETF Finder at ETF Channel, Y makes up 2.40% of the SPDR S&P Insurance ETF (AMEX:KIE) which is trading lower by about 0.4% on the day Monday.

See what other ETFs contain Y
See what other stocks are held by KIE


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