Three Stewart Information Directors Buy $283,710 of Stock

Three directors of Stewart Information Services Corp (STC) bought common stock on the open market on Oct. 23, according to Form 4 filings submitted to the SEC on Oct. 26. The four reported purchases total 6,000 shares and $283,710, at prices from $46.82 to $48 a share.

Thomas G. Apel, a director, reported two purchases of 1,000 shares each in a Form 4 filed Oct. 26. One was at $48 and the other at $47.47, for $95,470 in all. His direct holding of common stock went from 44,182 shares to 46,182 shares, a 4.5% increase.

C. Allen Bradley Jr., also a director, bought 2,000 shares at a weighted average price of $47.30, in trades from $47.15 to $47.42, according to his Form 4. The purchase came to $94,600 and lifted his direct holding from 25,034 shares to 27,034 shares, an 8% increase.

William S. Corey Jr., a director, bought 2,000 shares at $46.82 each, or $93,640, according to a third Form 4. His direct holding rose from 11,433 shares to 13,433 shares, a 17.5% increase.

None of the purchases was made under a Rule 10b5-1 plan, the filings show.

Form 4 is the report that officers, directors and holders of more than 10% of a company's stock must file within two business days of a trade in its shares. The transaction code on these filings is P, which marks an open-market or private purchase paid for by the insider, as opposed to grants, option exercises or purchases under an employee plan. AlphaScala's guide to transaction code P covers the distinction in more detail.

All three filings were submitted three calendar days after the Oct. 23 trades, which is one weekday.

The buying forms a cluster under AlphaScala's rule of three or more insiders each buying at least $25,000 on the open market within 30 days. Three insiders and four purchases fall inside it, all dated Oct. 23. Other insider cluster buys are tracked on the site, and the STC stock page has more on the company.

Open-market activity by Stewart insiders since July 23, in Form 4s filed before Oct. 24, was limited to one sale and no purchases. Brian Glaze, listed as PAO, sold 1,500 shares on Aug. 21 for $103,740, which was 63 days before the first of the October purchases.