Investing

Insiders Load Up on Top Blue Chips and Energy: General Electric, Kinder Morgan, Anadarko and More

Lee Jackson

Published: January 30, 2016 10:20 am

Last Updated: January 13, 2020 1:53 pm

The roller-coaster stock market continues to give investors some outstanding entry points to stocks, and insiders are no exception as the buying levels stayed elevated this past week. With January looking to finish as the worst month for the markets since 2009, and energy hitting the lowest levels in almost 10 years, savvy investors were once again scooping ups shares of the top companies.

We cover insider buying every week at 24/7 Wall St., and we like to remind our readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.

Here are some of the companies that reported notable insider buying this past week.

General Electric Co. (NYSE: GE) had a senior vice president at the company buying shares. The senior vice president bought a total of 65,272 shares of the iconic blue chip industrial at $28.04 per share. The total for the purchase came to $1.8 million. The shares have rallied nicely since the fall, and the January pullback provided a good entry point. This is bullish for investors considering buying shares. GE was trading on Friday’s close at $29.06.

Kinder Morgan Inc. (NYSE: KMI) has been battered in the oil rout, and a director at the company has taken advantage. That director purchased a massive block of 180,000 shares at prices between $14.18 and $14.20 apiece. The total for the buy was a very solid $2.6 million. Kinder Morgan operates as an energy infrastructure and energy company in North America. Its stock closed on Friday at $16.45, so it seems a very well-timed purchase indeed.

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