Elizabeth T. Kennan

Elizabeth T. Kennan discloses dealings in 13 companies, chiefly Northeast Utilities, Putnam Managed Municipal Income Trust and Putnam California Investment Grade Municipal Trust. In total, 32 filings cover trades dated from 3 January 2006 to 10 January 2012.

Market trades split into 5 purchases (€2,974) and 6 sales (€301k). On balance, insiders were net sellers of €298k. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. Other entries cover 7 share grants and 6 option exercises. So far in 2012, the count stands at 5 purchases and no sales.

A typical purchase (the median) is worth €586. Ninety days after publication, 5 purchases show a median change of +2.1%, with the price up in 100% of them. Past outcomes like these are no guarantee of what comes next.

The newest entry dates from 12 January 2012: an open-market purchase of €959, in Putnam Municipal Opportunities Trust. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 2 days. The legal deadline for a Form 4 is two business days after the transaction. Sales are harder to read than purchases, since they often meet personal needs such as tax or diversification. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.