Top Insider Buys Highlight for the Week of Feb. 28
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The largest insider buys this week were in Morgan Stanley (NYSE:MS), General Motors Co. (NYSE:GM), Energy Transfer LP (NYSE:ET) and Delta Air Lines Inc. (NYSE:DAL).
Morgan Stanley director bought 50,000 shares
Director Stephen J. Luczo bought 50,000 shares on Feb. 21 for an average price of $53. The share price has decreased by 15.04% since then.
Morgan Stanley is an investment bank and financial services company based in America. The company has offices in more than 42 countries and employs more than 55,000 individuals. The company's clients include corporations, governments, institutions and individuals and is a component of the S&P 100. The company has a market capitalization of $69 billion; as of Feb. 28, it traded at $45.03.
On Feb. 20, Morgan Stanley announced it entered into a definitive agreement with E*Trade Financial Corp. (ETFC), under which Morgan Stanley will acquire the financial services company operating in the online brokerage industry. The all-stock transaction is valued at approximately $13 billion. Under the agreement, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each E*Trade share, which represents a per-share consideration of $58.74.
General Motors director bought 1,561 shares
Director Theodore M. Solso bought 1,561 shares of GM stock on Feb. 26 at the average price of $32.02. The stock has decreased by 4.75% since then.
General Motors is an American carmaker. The company manufactures cars and trucks in 35 countries, with brands including Buick, Cadillac, Chevrolet, GMC, Holden and Wuling. The company has a market capitalization of $43.58 billion; as of Feb. 28, it traded at $30.50.
On Feb. 3, General Motors announced the board of directors declared a quarterly dividend of 38 cents per outstanding share. The dividend will be payable on March 20 to all common shareholders of record at the close of business on Friday, March 6.
Energy Transfer chief financial officer bought 5,800 shares
CFO Thomas E. Long bought 5,800 shares on Feb. 27 for an average price of $10.27. The share price has increased by 7.89% since then.
Energy Transfer is an American natural gas and propane pipeline transport company. The company is part of the Fortune 500 and is the parent company of Dakota Access LLC. In October of 2018, the company's name was changed to Energy Transfer LP after its merger with Energy Transfer Equity. The company has a market capitalization of $29.8 billion; as of Feb. 28, it traded at $11.08.