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 Thursday, Fortive Corp ( FTV )'s Director, Alan G. Spoon, made a $1.45M purchase of FTV, buying 18,000 shares at a cost of $80.80 each. Fortive Corp is trading trading flat on the day Friday.
And at Cigna Corp ( CI ), there was insider buying on Tuesday, by EVP, Chief Financial Officer Eric P. Palmer who bought 2,828 shares for a cost of $177.61 each, for a total investment of $502,281. This purchase marks the first one filed by Palmer in the past twelve months. Cigna Corp is trading up about 0.6% on the day Friday. Palmer was up about 8.9% on the purchase at the high point of today's trading session, with CI trading as high as $193.37 at last check today.