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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Arthur J. Gallagher's CEO, J. Patrick Gallagher Jr., made a $600,940 buy of AJG, purchasing 9,090 shares at a cost of $66.11 a piece. Arthur J. Gallagher is trading up about 1.6% on the day Friday.
And at Greene County Bancorp, there was insider buying on Wednesday, by Director Peter W. Hogan who bought 2,000 shares at a cost of $29.35 each, for a trade totaling $58,700. Before this latest buy, Hogan bought GCBC at 2 other times during the past year, for a total investment of $30,200 at an average of $30.20 per share. Greene County Bancorp is trading off about 1.9% on the day Friday.
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