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.
On Wednesday, NextEra Energy's CEO, John W. Ketchum, made a $1.01M purchase of NEE, buying 13,600 shares at a cost of $74.26 each. Ketchum was up about 2.6% on the purchase at the high point of today's trading session, with NEE trading as high as $76.22 at last check today. NextEra Energy is trading up about 2.4% on the day Friday. Before this latest buy, Ketchum made one other buy in the past year, purchasing $1.01M shares for a cost of $78.33 a piece.
And at First Interstate BancSystem, there was insider buying on Wednesday, by CEO Kevin P. Riley who purchased 13,150 shares at a cost of $26.06 each, for a total investment of $342,718. First Interstate BancSystem is trading off about 0.7% on the day Friday.
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