Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Cullen/Frost Bankers (NYSE:CFR)'s Director, Graham M. Weston, made a $4.99M purchase of CFR, buying 43,342 shares at a cost of $115.22 each. Bargain hunters can snag CFR at a price even lower than Weston did, with the stock trading as low as $112.48 in trading on Friday which is 2.4% under Weston's purchase price. Cullen/Frost Bankers is trading up about 0.2% on the day Friday. Before this latest buy, Weston purchased CFR at 2 other times during the past twelve months, for a total investment of $5.06M at an average of $104.57 per share.
And also on Wednesday, See Remarks Charles P. Nelson purchased $698,439 worth of Voya Financial (NYSE:VOYA), purchasing 13,900 shares at a cost of $50.25 each. This buy marks the first one filed by Nelson in the past year. Voya Financial is trading up about 0.6% on the day Friday. Nelson was up about 2.2% on the purchase at the high point of today's trading session, with VOYA trading as high as $51.35 at last check today.
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