Independent Director of Everest Group William Galtney Buys 17% More Shares

Those following along with Everest Group, Ltd. (NYSE:EG) will no doubt be intrigued by the recent purchase of shares by William Galtney, Independent Director of the company, who spent a stonking US$3.5m on stock at an average price of US$307. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 17%.

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Everest Group Insider Transactions Over The Last Year

Notably, that recent purchase by William Galtney is the biggest insider purchase of Everest Group shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$322. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. Happily, the Everest Group insiders decided to buy shares at close to current prices.

In the last twelve months insiders purchased 15.49k shares for US$4.8m. On the other hand they divested 2.53k shares, for US$906k. In total, Everest Group insiders bought more than they sold over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

See our latest analysis for Everest Group

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Does Everest Group Boast High Insider Ownership?

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. Everest Group insiders own about US$198m worth of shares (which is 1.5% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Do The Everest Group Insider Transactions Indicate?

It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest Everest Group insiders are well aligned, and quite possibly think the share price is too low. Nice! While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 1 warning sign for Everest Group and we suggest you have a look.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.