Five Insider Buys in the Finance Sector

As August slowly dwindles into September, we over at Inside Scoop had a super surprise this week when we wrote about some insider buying at Annaly Capital Management (NLY). The slight trend in buying got us wondering where other insiders in the finance sector might be buying this month and took a look at InsiderScore. Lo and behold, five more companies made the cut.

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Our first stop is Cheaspeake Lodging Trust (CHSP), which made the cut after two directors at the hotel REIT snapped up shares. Thomas Eckert bought 16,000 shares for $354,000 and John Hill bought 4,000 for $90,400.

Up next is American Realty Capital (ARCP), where five insiders–including the CEO and CFO–bought a total of $2.7 million worth of shares for an average of $13.73 each. InsiderScore notes that this activity came "as the stock continued to falter after hitting an all-time high this spring."

Although the next purchase was made to meet ownership guidelines, Reinsurance Group of America (RGA) still makes our cut after its EVP and head of international markets and operations Allan O’Bryant bought 6,500 shares for $423,100. This is his first purchase and InsiderScore notes that he owns over 30,000 in stock appreciation rights and adds, "EVPs are expected to own between 5,000-21,000 shares depending on “grade level of position.” O’Bryant is due to receive a base salary of $456,200 this year and is eligible to receive a 2013 bonus between 40% (minimum) and 160% (maximum) of his salary."

American Campus Communities (ACC) made the grade after three insiders at the student housing REIT bought $186,800. Leading the charge was CFO Jonathan Graf, who bought 3,700 shares for $67,700. InsiderScore categorized this combined purchase as a "Cluster Buying Unusual Event" and also notes that the purchases came after ACC released weak earnings and lowered its guidance.

Finally, we looked at medical office REIT Healthcare Trust of America (HTA), where four insiders bought a total of $344,000 worth of shares after the stock crashed to its lowest level since January. Of note to us was Chairman and CEO Scott Peters, who bought 13,000 shares for $137,000 and CFO Kellie Pruitt, who bought 5,000 shares for $51,400. In addition to the stock low, InsiderScore notes that insiders made similar purchases in June.

Have a safe and happy Labor Day and as always, we'll see you over at Inside Scoop.