Weekly highlight of top insider buys: Citigroup Inc. (NYSE:C), Bank of America Corp. (NYSE:BAC), Valeant Pharmaceuticals International (NYSE:VRX), AGCO Corp. (NYSE:AGCO), and Valley National Bancorp (NYSE:VLY).
Citigroup Inc. (NYSE:C): Director Jerry A Grundhofer Bought 25,000 Shares
Director of Citigroup Inc., Jerry A Grundhofer, bought 25,000 shares on 11/29/10 at an average price of $4.45.
Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $129.27 billion; its shares were traded at around $4.45 with and P/S ratio of 1.3.
On October 18, Citigroup Inc. reported third quarter 2010 net income of $2.2 billion or $0.07 per diluted share, marking its third consecutive quarterly operating profit. Citigroup income from continuing operations, which excludes an $800 million pre-tax ($435 million after-tax) loss on the previously-announced sale of The Student Loan Corporation ("SLC"), was $2.6 billion or $0.08 per diluted share in the third quarter 2010. In the first nine months of 2010, Citigroup earned $9.3 billion of net income and $9.6 billion of income from continuing operations.
Citigroup Inc. is owned by Andreas Halvorsen, Richard Perry, John Rogers, George Soros, Richard Snow, Lee Ainslie, David Dreman, James Barrow, David Williams, Irving Kahn, Mario Gabelli, Michael Price, Bruce Berkowitz, Hotchkis & Wiley, Prem Watsa, Bill Ackman, Ruuane Cunniff, NWQ Managers, Charles Brandes, Edward Lampert, David Tepper, John Paulson, hris Davis, and Whitney Tilson.
Last month, Buy: CEO, Consumer Banking Americas Manuel Medina-mora, Buy: Director Jerry A Grundhofer and Buy: CEO Europe, MidEast, Africa Alberto J Verme bought shares of C stock. Sell: CFO John C Gerspach sold 70,000 shares of C stock in August.
Bank of America Corp. (NYSE:BAC): Director Donald E Powell Bought 5,000 Shares
Director of Bank of America Corp., Donald E Powell, bought 5,000 shares on 12/01/10 at an average price of $11.86.
Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $119 billion; its shares were traded at around $11.86 with a P/E ratio of 53.9 and P/S ratio of 0.8. The dividend yield of Bank Of America Corp. stocks is 0.4%.
On October 19, Bank of America Corporation reported a net loss of $7.3 billion, or $0.77 per diluted share, in the third quarter of 2010, including a non-cash, non-tax deductible goodwill impairment charge of $10.4 billion. Excluding this charge, net income was $3.1 billion, or $0.27 per diluted share, compared with a net loss of $1.0 billion, or $0.26 per diluted share, in the third quarter of 2009.
Bank of America Corp. is in the portfolios of Mark Hillman, Bruce Berkowitz, Richard Pzena, Kenneth Fisher, Hotchkis & Wiley, Richard Pzena, Kenneth Fisher, Hotchkis & Wiley, Michael Price, Richard Snow, Charles Brandes, Chris Davis, Mario Gabelli, James Barrow, Bill Nygren, Warren Buffet, Donald Yacktman, Irving Kahn, Brian Rogers, Ronald Muhlenkamp, Dodge & Cox, David Dreman, John Keeley, Ruane Cunniff, David Tepper, George Soros, and John Paulson.
Last week, Buy: Director Donald E Powell bought 5,000 shares of BAC stock. Buy: Director Robert W Scully and Buy: Director Charles O Jr Holliday bought shares in November.
Buy: Director Donald E Powell and Buy: CEO and President Brian T Moynihan bought shares in August. In July, Buy: CFO Charles H Noski bought 6,000 shares and Sell: Chief Accounting Officer Cotty Neil sold 5,000 shares.
Valeant Pharmaceuticals International (NYSE:VRX): Director Katharine Berghuis Stevenson Bought 3,000 Shares
Director of Valeant Pharmaceuticals International, Katharine Berghuis Stevenson, bought 3,000 shares on 11/29/10 at an average price of $28.32.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. Valeant Pharmaceuticals International has a market cap of $8.5 billion; its shares were traded at around $28.32 with a P/E ratio of 24.4 and P/S ratio of 10.4. The dividend yield of Valeant Pharmaceuticals International stocks is 1.4%. Valeant Pharmaceuticals International had an annual average earning growth of 13.7% over the past 5 years.
On November 4, Valeant Pharmaceuticals International reported results for the third quarter of 2010. Total reported revenue was $208.3 million in the third quarter of 2010 as compared to $212.5 million in the third quarter of 2009, a decrease of 2%. Product sales were $201.4 million in the third quarter of 2010, as compared to $204.3 million in the third quarter of 2009, a decrease of 1%. Research and development (R&D) revenue was $0.5 million in the third quarter of 2010 as compared to $3.4 million in the third quarter of 2009. This decrease is attributable to the divestiture of Biovail's contract research division (CRD) to Lambda Therapeutic Research Inc. in July 2010.
Valeant Pharmaceuticals International is owned John Griffin, Ruane Cunniff, Jean-Marie Eveillard, Andreas Halvorsen, John Hussman, NWQ Managers, and Charles Brandes.
Last week, Sell: President & COO Spec. Pharma. Silva Rajiv De sold 219,897 shares of VRX stock. In November, Buy: Director Katharine Berghuis Stevenson bought 3,000 shares. Sell: COO, Biovail Labs.Intl SRL Michel Chouinard, Sell: Director William Mcdowall Wells, Buy: Director Katharine Berghuis Stevenson , and Sell: EVP, GC & Corp. Sec. Robert Roswell Chai-onn sold shares.
AGCO Corp. (NYSE:AGCO): Sr VP, Manufacturing & Quality Hans Bernd Veltmaat Bought 1,700 Shares
Sr VP, Manufacturing & Quality of Agco Corp. (NYSE:AGCO) Hans Bernd Veltmaat bought 1,700 shares on 11/30/2010 at an average price of $46.16.
AGCO Corp. is engaged in the manufacture and distribution of farm equipment, machinery and replacement parts in the United States and Canada. Agco Corp. has a market cap of $4.29 billion; its shares were traded at around $46.16 with a P/E ratio of 25 and P/S ratio of 0.6. AGCO Corp. had an annual average earning growth of 11.6% over the past 10 years. GuruFocus rated AGCO Corp. the business predictability rank of 2.5-star.
On October 26, AGCO Corp. a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $1.7 billion for the third quarter of 2010, an increase of 19.3% compared to the third quarter of 2009. Reported net income was $0.65 per share and adjusted net income, excluding restructuring and other infrequent expenses, was $0.66 per share. These results compare to reported net income of $0.12 per share and adjusted net income, excluding restructuring and other infrequent expenses, of $0.13 per share for the third quarter of 2009.
AGCO Corp. is in the portfolios of David Williams, Kenneth Fisher, and George Soros.
Last month, Buy: Sr VP, Manufacturing & Quality Hans Bernd Veltmaat bought 1,700 shares of AGCO stock. Sell: Sr VP, Strategy & Integration Hubertus M Muhlhauser, Sell: SVP, Gen. Mgr., EAME and ANZ Gary L Collar, Sell: Sr. VP, Materials Management David L Caplan, and Sell: SVP, Global Sales & Marketing Randall G Hoffman sold shares in November.
Valley National Bancorp (NYSE:VLY): Director Barnett Rukin Bought 2,000 Shares
Director of Valley National Bancorp, Barnett Rukin, bought 2,000 shares on 11/26/10 at an average price of $13.39.
Valley National Bancorp is a bank holding company whose principal subsidiary is Valley National Bank. Valley National Bancorp has a market cap of $2.16 billion; its shares were traded at around $13.39 with a P/E ratio of 18 and P/S ratio of 2.8. The dividend yield of Valley National Bancorp stocks is 5.5%. Valley National Bancorp had an annual average earning growth of 0.1% over the past 10 years.
On October 21, Valley National Bancorp reported net income for the third quarter of 2010 of $32.6 million, $0.20 per diluted common share, as compared to the third quarter of 2009 earnings of $25.6 million, after $6.0 million in dividends and accretion on Valley preferred stock, or $0.17 per diluted common share.
Valley National Bancorp is owned by two Gurus: Mario Gabelli and Richard Snow.
Last month, Buy: Director Barnett Rukin bought 2,000 shares of VLY stock. In September, Sell: Director Graham O Jones sold 3,500. Sell: Senior EVP & COO Peter P Crocitto sold 1,100 shares in July.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys:: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.