Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.
The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.
Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.
Listed below are three dividend stocks that have had recent buying activity in the public market reported by insiders.
Canadian National Railway Co. (CNR-T)
On Jan. 26, director Margaret McKenzie acquired 1,115 shares at a cost per share of $156.5997 for her RRSP, initiating a position in this particular account. The cost of this purchase exceeded $174,000.
That same day, fellow director Michel Letellier bought 700 shares at an average cost per share of approximately $156.64 for his REER, initiating a position in this specific account. The cost of this investment totaled over $109,000.
Mr. Letellier is president and chief executive officer of Innergex Renewable Energy Inc. (INE-T).
On Jan. 24, management announced that an 8-per-cent dividend increase was approved by its Board of Director. In March, the company will pay its shareholders a quarterly dividend of 79 cents per share, equating to a current annualized yield of 2 per cent.
CI Financial Corp. (CIX-T)
On Jan. 26 and 27, chair of the board of directors Bill Holland acquired a total of 35,900 shares at an average cost per share of roughly $15.93 for an account in which he has indirect ownership (WH Corp.), increasing this particular account’s position to 1,973,000 shares. The cost of these purchases totaled more than $571,000.
Previously, between Jan. 19-23, Mr. Holland bought a total of 105,800 shares at an average price per share of approximately $15.50 for this account. The cost of these purchases exceeded $1.6-million.
Mr. Holland is CI’s former chief executive officer.
The company pays its shareholders a quarterly dividend of 18 cents per share or 72 cents per share yearly, equating to a current annualized yield of 4.5 per cent.
Westshore Terminals Investment Corp. (WTE-T)
On Jan. 27, billionaire businessman Jim Pattison, with an ownership position exceeding 10 per cent, invested over $800,000 in shares of Westshore. He bought 35,400 shares at a cost per share of $24.0186 for an account in which he has indirect ownership (Great Pacific Capital Corp.), increasing this specific account’s holdings to 10,395,400 shares.
The company pays its shareholders a quarterly dividend of 30 cents per share or $1.20 per share yearly, equating to a current annualized yield of 4.9 per cent.
Listed below is a stock that has had recent selling activity in the public market reported by an insider.
Lundin Gold Inc. (LUG-T)
On Jan. 20, director Chantal Gosselin exercised her options, receiving 34,500 shares at a cost per share of $5.15, and sold 34,500 shares at a price per share of $15.0214 with 14,150 shares remaining in this particular account. Net proceeds totaled over $340,000, excluding any associated transaction fees.
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