They’re Not Jamie Dimon: Few CEOs Bought Their Own Stock in ’16by Anders MelinDecember 30, 2016, 6:00 AM MST
Insiders sometimes open their wallets when shares are cheapJPMorgan chief spent $26 million on his bank’s stock this year. Few top executives followed Jamie Dimon’s example this year in buying company stock.Insiders at a majority of S&P 500 Index companies didn’t purchase any of their firm’s shares in the open market this year, according to data compiled by Bloomberg, a far cry from the $26.6 million Dimon shelled out for JPMorgan Chase & Co. equity.Most corporate executives and directors steered clear as U.S. stocks became increasingly expensive. A rally since the presidential election has lifted equity indexes to records and the S&P 500’s price-to-earnings ratio to a seven-year high.
Source: They’re Not Jamie Dimon: Few CEOs Bought Their Own Stock in ’16 – Bloomberg