Cluster of Insider Selling at Well-Known Investment Bank, Plus Noteworthy Insider Buying at Four Other Companies

Insider at Webster Financial Boosts Ownership Stake

One member of Webster Financial Corporation (NYSE:WBS)’s Board of Directors also bought some shares this week. Board member William L. Atwell snatched up 4,000 units of common stock on Monday at a price tag of $40.11 per share. Mr. Atwell currently owns 15,888 shares after the recent purchase.

Webster Financial Corporation (NYSE:WBS) operates as a bank holding company and financial holding company of Webster Bank and various non-banking financial services subsidiaries, which provide financial services to individuals, families, and businesses mainly from New York to Massachusetts. In late October, the bank released its financial results for the third quarter, which fueled a further increase in the company’s share price. Webster Financial Corporation reported revenue of $246.6 million, which was up 7.5% year-over-year. The top-line growth reflected record levels of net interest income and non-interest income. The company’s net interest income was $180.2 million versus $168.0 million posted for the same period of the previous year. The shares of Webster Financial are up 8% year-to-date. Ken Fisher’s Fisher Asset Management reported the ownership of 2.55 million shares of Webster Financial Corporation (NYSE:WBS) through the latest round of 13F filings.

Cluster of Insider Selling at Well-Known Investment Bank

The final part of this insider trading article will discuss a cluster of insider selling observed at Piper Jaffray Companies (NYSE:PJC). To start with, Christine N. Esckilsen, the Chief Human Capital Officer and Assistant General Counsel at Piper Jaffray, discarded 2,000 shares on Tuesday at prices varying from $56.70 to $57.20 per share. Ms. Esckilsen currently holds an aggregate of 8,966 shares following the recent sale. Jeffrey P. Klinefelter, Global Head of Equities, liquidated 10,000 shares on Monday at prices that ranged from $56.00 to $56.55 per share, trimming his overall holding to 66,856 shares. Chad R. Abraham, Global Co-Head of Investment Banking and Capital Markets Group, offloaded 17,048 shares on Monday at a weighted average price of $56.33 per share. Mr. Abraham currently holds an ownership stake of 67,512 shares.

The well-known investment bank and asset management firm has seen its market value jump by 34% since the beginning of the year. Jaffray Companies (NYSE:PJC)’s third-quarter net revenues increased by 34.2% year-over-year to $200.85 million, primarily reflecting higher investment banking revenues. Higher fixed income institutional brokerage revenues also gave a boost to the company’s top-line figure. Fisher Asset Management cut its position in Jaffray Companies (NYSE:PJC) by 22% during the third quarter to approximately 87,000 shares.

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