Although US stocks closed higher on Thursday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

KeyCorp

• The Trade: KeyCorp (NYSE:KEY) Director Ruth Ann M Gillis acquired a total of 2,000 shares an average price of $12.95. To acquire these shares, it cost around $25.9 thousand.
• What’s Happening: Piper Sandler upgraded KeyCorp from Underweight to Neutral and lowered the price target from $18.5 to $16.5.
• What KeyCorp Does: With assets of over $170 billion, Ohio-based KeyCorp's bank footprint spans 16 states, but it is predominantly concentrated in its two largest markets: Ohio and New York.

Unum Group

• The Trade: Unum Group (NYSE:UNM) Director Gloria Larson acquired a total of 3,270 shares at an average price of $39.78. To acquire these shares, it cost around $130.08 thousand.
• What’s Happening: Citigroup upgraded Unum from Neutral to Buy and raised the price target from $49 to $53.
• What Unum Group Does: Unum Group is a provider of group and individual income protection insurance products in the United States, the United Kingdom, Poland, and other countries.

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PNC Financial

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