Skip to main content

Market Overview

Insider Buys Of The Week: Associated Banc-Corp, IFF, Molina Healthcare

Insider Buys Of The Week: Associated Banc-Corp, IFF, Molina Healthcare

Insider buying can be an encouraging signal for potential investors.

A number of insiders took advantage of share offerings.

One company saw buying while shares were at all-times highs.

  • Conventional wisdom says that insiders and 10-percent owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. So insider buying can be an encouraging signal for potential investors, particularly with markets at all-time highs.

Here's a look at a few notable insider purchases reported in the past week.

Associated Banc-Corp

Associated Banc Corp (NYSE: ASB) saw CEO Philip Flynn and four other directors step up to the buy window this past week. The 234,000 shares of this Wisconsin-based regional bank — acquired at a per-share price of $25 — cost them $5.85 million altogether. This was part of a $100-million preferred stock offering intended to raise funds to buy back $200 million in common shares.

Associated Banc-Corp named a new chief information officer earlier this month. The stock closed Friday at $26.90 after climbing less than 2 percent during the week. Shares have changed hands between $23 and $29.03 each in the past year, and the analyst's mean price target is $29.58.

Molina Healthcare

A Molina Healthcare, Inc. (NYSE: MOH) executive vice president bought two equal batches of shares last week. The total of 25,000 shares acquired of this California-based managed care company, at per-share prices between $147.34 and $149.67, cost him almost $3.72 million. Note that these purchases were pursuant to a Rule 10b5-1 purchase agreement that was established June 8.

The stock has been hitting new all-time highs since the second-quarter report back in July. Its shares dropped about 4 percent but recovered in the past week. They were last seen trading at $152.72 apiece, above that executive's purchase price range. The analysts' mean price target is still down at $138.85.


International Flavors & Fragrances Inc (NYSE: IFF) had beneficial owner Winder Investment add to its stake again. At $130.25 per share, the more than 2.72 million shares reportedly acquired in the past week cost the Singapore-based holding company almost $295.95 million. Note that Winder has been buying shares on and off since March, and this purchase was part of a public offering of common shares.

IFF intends to close its acquisition of Frutarom soon, after recently receiving final antitrust clearance. The shares ended the week trading at $140.46 each. They have traded as low as $122.11 and as high as $157.40 in the past 52 weeks — above the consensus price target of $144.93.

See also: A Fintech Friday Look At Three Bay Area Disruptors

At the time of this writing, the author had no position in the mentioned equities.

Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.


Related Articles (ASB + IFF)

View Comments and Join the Discussion!

Posted-In: associated banc-corp IFF Molina HealthcareNews Insider Trades Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at