KKR (KKR) was Smart Insider's stock pick of the week after the company's non-executive Robert Scully bought $1.5 million worth of KKR's shares on May 6 at $113.49 apiece, raising his ownership by 8%.
Scully has an "excellent" record as a buyer at the company and in his other non-executive roles at Chubb (CB) and Zoetis (ZTS), qualifying as a "Smart Buyer," Smart Insider said in a Tuesday note.
The note also added that Scully previously bought shares on four different occasions, and it ranked the stock on the last three of these purchases, which provided "strong returns."
"It's encouraging to see him now buying at more than 2x the price of his previous purchase," according to the note.
Smart Insider ranked the stock +1, or strongly positive signal, on Friday.
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