$1.5M Bet On This Financial Services Stock? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed higher on Wednesday following Fed’s interest-rate decision, 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.

Fifth Third Bancorp

• The Trade: Fifth Third Bancorp FITB Director C. Bryan Daniels acquired a total of 64,500 shares an average price of $23.31. To acquire these shares, it cost around $1.5 million.
• What’s Happening: Fifth Third Bancorp reported better-than-expected earnings for its third quarter.
• What Fifth Third Bancorp Does: Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati.

Loews

• The Trade: Loews Corporation L Director Jonathan C Locker acquired a total of 15,870 shares at an average price of $63.75. To acquire these shares, it cost around $1.01 million.
• What’s Happening: Loews reported third-quarter EPS of $1.12, up from a loss of 9 cents a year ago.
• What Loews Does: Loews Corp is a holding company that is supported by a variety of businesses. Its largest subsidiary is CNA Financial Corporation, a property and casualty insurance company.

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Align Technology

• The Trade: Align Technology, Inc. ALGN President and CEO Joseph M Hogan bought a total of 5,319 shares at an average price of $188.00. To acquire these shares, it cost around $1 million.
• What’s Happening: Align Technology reported worse-than-expected third-quarter financial results and issued guidance.
• What Align Technology Does: Align Technology is the leading manufacturer of clear aligners. Invisalign, its main product, was approved by the FDA in 1998, and it has since dominated, controlling over 90% of the market.

TrueBlue

• The Trade: TrueBlue, Inc. TBI Director Robert Kreidler bought a total of 10,000 shares at an average price of $11.07. The insider spent around $110,700 to buy those shares.
• What’s Happening: TrueBlue posted weaker-than-expected results for its third quarter.
• What TrueBlue Does: TrueBlue Inc is a provider of staffing and workforce management solutions.

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