Financial executives are buying less of their own stocks. Should Wall Street be concerned? | Fortune

A new VerityData report highlights a softening trend in insider buying among financial executives, raising questions about what investors should read into the signal ahead of big bank Q3 earnings starting next week. The number of unique financial-sector buyers fell to a nearly 23-year low in the July-to-September quarter. VerityData counted just 298 unique buyers in Q3—down from 302 in the prior year’s comparable period and lower than any reading since 2004. The broader market saw insider buying drop 18% to 1,290 buyers. The report’s dataset covers insider trading filings across more than 3,000 financial services firms. Harvard professor Jesse Fried said fewer purchases can be a bearish sign, while professor Nejat Seyhun argued insider trading isn’t reliably predictive in the sector.