Symetra Financial Earnings Follow This CIO’s Purchase

Symetra Financial earnings: Symetra Financial Corporation (NYSE:SYA) is set to announce its third quarter results for 2013 next Wednesday, October 23^rd. In a possible anticipation of a positive outlook for the rest of the year, SVP-CIO George N. McKinnon purchased 81 shares of common stock last week at $15.61 per share. The shares were acquired under the firm’s Employee Stock Purchase Plan at a discounted price. Symetra stock is currently trading just above $19, which means McKinnon has already gained a 22.2% profit on the trade.

Symetra shares offer a 1.7% dividend yield rate, with an annual rate of dividend growth that totaled 21.74% over the past year. The firm is currently trading at 13.2 times its trailing earnings, and can thus be acquired at a huge price discount relative to its industry’s average. Although McKinnon’s purchase of company stock was rather small, this is the first insider trade the company has seen in a long time. A positive outcome in its third quarter results, coupled with the backing of an insider purchase, could motivate other insiders to increase their holdings in the company moving forward.

We’ll be watching closely.

Disclosure: Pablo Erbar holds no position in any stocks mentioned

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