As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Protective Life Corp. (NYSE:PL), a filing with the SEC revealed that on Friday, Chief Risk Officer Michael Gus Temple purchased 2,500 shares of PL, for a cost of $42.87 each, for a total investment of $107,175. So far Temple is in the green, up about 2.6% on their buy based on today's trading high of $43.99.
And on Monday, VP of Human Resources and Administration James E. Street bought $98,249 worth of Kinder Morgan (NYSE:KMI), buying 2,750 shares at a cost of $35.73 each. So far Street is in the green, up about 3.0% on their purchase based on today's trading high of $36.79.
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