Monday 1/25 Insider Buying Report: PNC, C Monday, January 25, 10:31 AM ET
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, PNC Financial Services Group (PNC)'s Director, Andrew T. Feldstein, made a $2M purchase of PNC, buying 23,600 shares at a cost of $84.68 a piece. PNC Financial Services Group is trading down about 1.4% on the day Monday. Before this latest buy, Feldstein made one other purchase in the past twelve months, buying $2.11M shares for a cost of $95.83 each.
And at Citigroup (C), there was insider buying on Friday, by Director Michael E. O'Neill who bought 25,000 shares at a cost of $41.01 each, for a trade totaling $1.03M. Before this latest buy, O'Neill made one other buy in the past twelve months, purchasing $1.44M shares at a cost of $50.16 each. Citigroup is trading off about 2.3% on the day Monday. Investors are able to buy C even cheaper than O'Neill did, with shares changing hands as low as $40.10 in trading on Monday -- that's 2.2% under O'Neill's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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