Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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 23rd. 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 Financial Corporation (NYSE:SYA)

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

Recommended Reading:

7 Insider Moves You Should Pay Attention To

CBIZ Experiences Small Insider Trades

More Insider Trading Activity at Carmike Cinemas; Now CEO Raises Bet

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.