White Mountains Insurance (WTM) filed a form S-4 with the Securities and Exchange Commission (SEC) last Tuesday, stating that Ray Barrette, the Chief Executive Officer (CEO) bought 2,000 shares of the company stock at prices between $441.52 and $445.
On June 17, 2008, WTM held its annual analyst meeting and Barrette indicated that the company would resume its stock buyback program, or as he called it an "allowance from the board" since he considered the stock attractive at this level ($450 range).
The last reported tangible book value of WTM was $443 at the end of the first quarter (3/31/08).
I am going through the WTM analyst meeting web cast and will post my thoughts on it shortly.
WTM is trading at its lowest price to book since the late 1990's.
Disclosure - I am long WTM.
Monday, June 30, 2008
WTM Insider Buy
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