Yahoo Finance Insider Buying: The iA Financial Corporation Inc. (TSE:IAG) Executive VP & Chief Transformation Officer Just Bought 44% More Shares
Even if it's not a huge purchase, we think it was good to see that Pierre Miron, the Executive VP & Chief Transformation Officer of iA Financial Corporation Inc. (TSE:IAG) recently shelled out CA$97k to buy stock, at CA$64.95 per share. While we're hesitant to get too excited about a purchase of that size, we do note it increased their holding by a solid 44%.
View our latest analysis for iA Financial
The Last 12 Months Of Insider Transactions At iA Financial
Over the last year, we can see that the biggest insider purchase was by Executive VP & Chief Growth Officer Michael Stickney for CA$352k worth of shares, at about CA$68.96 per share. That means that even when the share price was higher than CA$65.16 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays for shares is very important. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.
In the last twelve months insiders purchased 14.25k shares for CA$1.0m. But they sold 1.80k shares for CA$128k. In the last twelve months there was more buying than selling by iA Financial insiders. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Does iA Financial Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. From our data, it seems that iA Financial insiders own 0.1% of the company, worth about CA$9.9m. Whilst better than nothing, we're not overly impressed by these holdings.
What Might The Insider Transactions At iA Financial Tell Us?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that iA Financial insiders are reasonably well aligned, and optimistic for the future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Case in point: We've spotted 1 warning sign for iA Financial you should be aware of.
But note: iA Financial may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
