In this article we will take a look at three large-cap stocks in which insiders have bought in during the first quarter of the year.
The largest company in this list –in terms of market cap- is Citigroup Inc (NYSE:C), a $147 billion market cap financial services holding company. Over the past couple of months, Citigroup Inc (NYSE:C) saw two insiders spend more than $1.54 million on its stock. On May 20, William Thompson, Board Director, acquired 40,228 shares of the company; 18,768 Series K Depositary Shares, for $26.70 per share, and 21,460 shares of Common Stock, for $46.60 each. After spending more than $1.5 million, the insider owns 79,880 shares of Citigroup Inc (NYSE:C)’s Common Stock, plus the Series K shares that he purchased.
A month earlier, on April 15, Barbara Desoer, CEO at Citibank, started a position in the company with 1,000 shares, for which she paid $48.19 per share. In addition to these insiders, one of the largest shareholders at Citigroup Inc (NYSE:C), Boykin Curry’s Eagle Capital Management last declared having purchased 15.21 million shares of the company, and now holds 15.23 million shares, worth more than $725 million.
The second-runner-up is Phillips 66 (NYSE:PSX), a $47.4 billion market cap downstream energy company that saw two of its Directors buy its stock on May 6. William Loomis Jr. acquired 5,907 shares of Common Stock for $84.5699 per share, and Glenn Tilton, 5,900 shares, for $84.4083 each. The insiders now own 37,208 shares and 15,236 shares of Phillips 66 (NYSE:PSX), respectively (through diverse direct and indirect holdings).
Once again, it is not only insiders that seem bullish on Phillips 66 (NYSE:PSX). D. E. Shaw upped its stake by 9% over 2014’s first quarter, and now holds more than 7.56 million shares, worth over $582 million. An even larger shareholder is Warren Buffett’s Berkshire Hathaway, which last declared beneficial ownership of more than 9.74 million shares of Phillips 66.
Finally, there’s Emerson Electric Co. (NYSE:EMR), a $47.4 billion market cap diversified global technology company. On May 8, Randall Stephenson, Board Director (and President and CEO at AT&T Inc. (NYSE:T)), bought 7,445 shares of Common Stock for prices ranging from $67.0598 per share to $67.06 per share. Following this transaction, the insider owns 30,279 shares of the company. On the same date, Arthur Golden, Director, purchased 3,000 shares of Emerson Electric Co. (NYSE:EMR) for prices ranging from $67.11 per share to $67.12 per share, boosting his holdings to 49,476 shares.
Other investors (worth mentioning) placing big bets on Emerson Electric Co. (NYSE:EMR) are Phill Gross and Robert Atchinson (Adage Capital Management), who boosted their stake enormously over the first quarter, and now own more than 1.19 million shares, worth roughly $80 million, and Jim Simons (Renaissance Technologies), who more than doubled his exposure over the last reported quarter, to 669,800 shares of the company.
Disclosure: Javier Hasse holds no position in any stocks mentioned