We present here noteworthy buys sells from Monday's SEC Form 4 (insider trading) filings, as part of our daily and weekly coverage of insider trades. These were selected by a review of over 330 separate transactions in over 190 different companies that were filed with the SEC on Monday. The filings are noteworthy based on the dollar amount sold, the number of insiders buying or selling, and based on whether the overall buying or selling represents a strong pick-up based on historical buying and selling in the stock (for more info on how to interpret insider trades, please refer to the end of this article):
Halozyme Therapeutics (NASDAQ:HALO): HALO develops recombinant human enzymes for the infertility, drug delivery, endocrinology, oncology, and dermatology markets. On Monday, Director and 10% owner Randall Kirk, also the CEO and Sr. MD of Radford, VA-based venture capital firm Third Security, filed SEC Form 4 on behalf of Third Security, indicating that he purchased 1.36 million shares for $14.4 million, increasing his holdings in the company to over 17.5 million shares or almost 16% of outstanding shares. Mr. Kirk is one of Virginia's wealthiest residents, with a net worth estimated by Forbes at $1.6 billion in 2009.
Ingersoll-Rand Co. (NYSE:IR): IR is a manufacturer of a diverse range of industrial and commercial products, including climate control units, fluid handling systems, compressed air systems, biometric access control systems and energy efficient solutions. On Monday, Director Tony White, former Chairman & CEO of Applied Biosystems, filed SEC Form 4 indicating that he exercised options and sold the resulting 4,500 shares for $0.17 million. In comparison, insiders at IR sold only a total of 12,400 shares in the past six months. IR trades at 10-11 forward P/E and 1.6 P/B compared to averages of 12.8 and 2.6 for its peers in the general industrial machinery group.
Prudential Financial Inc. (NYSE:PRU): PRU is one of the largest financial services institutions in the U.S. It offers life insurance, annuities, mutual funds and retirement products in the U.S., Europe, Asia and Latin America. On Monday, Chairman & CEO John Strangfeld filed SEC Form 4 indicating that he exercised options to acquire 137,615 shares and sold 64,876 shares for $3.9 million, pursuant to a 10b5-1 plan, ending with 0.26 million shares after the sale (not including derivative holdings). In comparison, insiders reported selling only an additional 12,995 shares in the past year. PRU has a dividend yield of 2.4% versus the 1.9% average for its peers, and it also trades at discount 7-8 forward P/E versus the 9.1 average for its peers in the multi-line insurance group.
Dominion Resources Inc. (NYSE:D): Dominion is one of the nation's largest producers and transporters of energy, providing electric and gas utility services, and it also operates the nation's largest natural gas storage system. On Monday, Director Mark Kington, also MD of X-10 Capital Management, filed SEC Form 4 that he purchased 25,000 shares for $1.25 million, increasing his holdings to over 65,000 shares in direct and almost 30,000 shares in indirect holdings. Dominion shares currently trade at 14-15 forward P/E and 2.5 P/B compared to averages of 19.4 and 1.3 for its peers in the electric utilities group; furthermore, Dominion has a dividend yield of 4.2% compared to the 3.7% average for the group.
On top of these, some additional large insider sales on Monday included a $20.7 million sale by eight insiders, with the majority of the shares (0.34 million out of 0.44 million) sold by CEO Mark McAndrew at Torchmark Corp. (NYSE:TMK), a provider of individual life and supplemental health insurance, including juvenile and senior life coverage; a $12.0 million sale by nine insiders at Whole Foods Market Inc. (NASDAQ:WFM), an operator of 299 organic supermarkets in 38 states, Canada, and the U.K. featuring organically grown foods; a $1.4 million sale by two insiders at Walt Disney Co. (NYSE:DIS), with the majority of the shares (33,146 out of the 35,146) being sold pursuant to a 10b5-1 plan by EVP Kevin Mayer; and a $1.4 million sale by Sr. EVP William Blase at AT&T Inc. (NYSE:T).
Credit: Fundamental data in this article were based on SEC filings, Zacks Investment Research, Thomson Reuters and Briefing.com. The information and data is believed to be accurate, but no guarantees or representations are made.
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