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Weekly Top Insider Buys: Cincinnati Financial Corp., American International Group Inc., Heartland Payment Systems Inc., SANDRIDGE ENERGY INC, Williams Partners L.P.

Highlight of weekly top insider buys: Cincinnati Financial Corp. (CINF), American International Group Inc. (AIG), Heartland Payment Systems Inc. (HPY), SANDRIDGE ENERGY INC (SD), Williams Partners L.P. (WPZ).

Cincinnati Financial Corp. (CINF): Chairman, Director John J. Schiff Jr. Bought 30,000 Shares

Insurer Cincinnati Financial Corporation (CINF) declared the quarterly dividend at $0.39 per share. Extensive storms in the South and Midwest created many claims, sending quarterly profits down by 82%. The company earned $63 million, or $0.38 a share for the quarter compared to $351 million or $2.02 a share a year ago. Claim losses for the quarter totaled $113 million. The company’s revenue declined nearly 30% to $917 million.

David Dreman, Ruane Cunniff, and Tom Gayner own shares in CINF.

Chairman, Director John J. Schiff Jr. bought 30,000 shares on 8/13/08 at $27.57. Other buys were made by CFO Steven J. Johnston, who bought 22,000 shares on 8/12008 at $28.07; by President &, Director Kenneth W. Stecher, who bought 3,000 shares at $28.43; and by SVP Charles P. Stoneburner, who bought 1,000 shares on 6/30/08 at $25.50.

SVP Donald J. Doyle Jr. sold 1,585 shares of on 6/30/08 at $25.67.

Cincinnati Financial Corp. has a market cap of $4.53 billion; its shares were traded at around $28.69 with a P/E ratio of 14.13 and P/S ratio of 1.30. The dividend yield of Cincinnati Financial Corp. stocks is 5.44%.

American International Group Inc. (AIG): Director Morris Offit Bought 30,000 Shares

The shares of the largest insurer American International Group Inc. (AIG) fell 6% since the beginning of the week. Additionally, the shares have been traded around $19.73 to $70.13 over the past 52-weeks. AIG reported a loss of $5.36 billion for the second quarter on heavy mortgage write-downs. The company recently sold $3.25 billion worth of 10-year notes to raise capital.

David Williams, NWQ Managers, David Tepper, Charles Brandes, Dodge & Cox, Brian Rogers, and Chris Davis all bought AIG shares. Tweedy Browne sold 40% of his AIG holdings; and Tom Gayner

Ken Heebner, and Ronald Muhlenkamp sold out all their AIG holdings prior to June.

In August, Director Morris Offit, Director James F. Orr III, and Director Fred Langhammer bought 30,000 shares 10,000 shares, and 10,000 shares, respectively at $24 a share. Also, Director Virginia M. Rometty bought 2,500 shares on 5/19/08 at $39.07.

American International Group Inc. has a market cap of $58.16 billion; its shares were traded at around $22.99 with P/S ratio of 0.75. The dividend yield of American International Group Inc. stocks is 3.48%.

Heartland Payment Systems Inc. (HPY): Director Robert H. Niehaus Bought 30,600 Shares

Heartland Payment Systems Inc. (HPY) provides bank card-based payment processing services to small- and medium- sized merchants. The company’s quarterly earnings increased 10% to $11.5 million or $0.30 a share from $10.4 million or $0.26 a share, on revenue rise of 18% to $394.5 million. The shares of Heartland have ranged between $19.44 and $33 over the past year.

Director Robert H. Niehaus bought 30,600 shares on 8/12/08 at $23.30.

Director, and 10% Owner Robert O. Carr sold a total of 44,095 shares on 8/13/08 at $22.14 to $27.46. The Capital Partners, Ll Greenhill sold 63,526 shares of HPY stock on 6/17/08 at $26.99.

Heartland Payment Systems Inc. has a market cap of $896.09 million; its shares were traded at around $23.98 with a P/E ratio of 24.11 and P/S ratio of 0.63. The dividend yield of Heartland Payment Systems Inc. stocks is 1.5%.

SANDRIDGE ENERGY INC (SD): Director Daniel Jordan Bought 75,000 Shares

Oil and Gas Company SandRidge Energy Inc. (SD) plans to shut down its Grey Ranch Texas plant for three months to repair fire damages. Sandridge and Occidental Petroleum Corporation will jointly build a carbon dioxide extraction plant in West Texas; Occidental will pay $1.1 billion towards the project. The Oklahoma based company shares fell this month as information on the company’s holdings were uncertain. In July, the company planned to sell off their East Texas and North Louisiana assets.

George Soros bought 240,000 shares in the quarter that ended on 6/30/08. Other gurus also own shares of SD, including: John Keeley, Steve Mandel, T. Boone Pickens, and Ron Baron.

Director Daniel Jordan bought 75,000 shares on 8/12/08 at $34.91; as of May, he has purchased a total of 150,000 shares between $34.91 and $56. Other insiders bought at $34.19 to $56.99: Chairman, CEO and President, Director, 10% Owner Tom L. Ward bought a total of 1,260,000 shares; Director Bill A. Gilliland bought 40,000 shares; Director Stuart W. Ray bought 10,000 shares; SVPs Randall D. Cooley and Richard Gognat each bought 1,000 shares.

SANDRIDGE ENERGY INC has a market cap of $5.05 billion; its shares were traded at around $34.09 with P/S ratio of 5.56.

Williams Partners L.P. (WPZ): Director H Michael Krimbill Bought 20,000 Shares

Williams Partners (WPZ) produces, processes, and transports natural gas. The company’s second quarter profits soared 54% to $71.4 million or $0.92 a share, from $46.7 million or $0.48 a share. In the same period, revenue rose 28% to $178.2 million from $139.3 million. Williams Partners will pay-out $0.625 per unit as a cash dividend for the quarter.

Director H. Michael Krimbill bought 20,000 shares on 8/12008 at $28.49. General Counsel James J. Bender bought 10,000 shares since March at $35. Director Alan S. Armstrong bought 5,000 shares on 8/13/08 at $27.50.

Williams Partners L.P. has a market cap of $1.43 billion; its shares were traded at around $26.98 with a P/E ratio of 9.64 and P/S ratio of 2.27. The dividend yield of Williams Partners L.P. stocks is 9.27%.


Rating: 4.5/5 (6 votes)

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