Insider stock purchases highest in four years

Total insider buying in the United States reached $252 million in August, the highest level since 2003, according to the Financial Times. The month normally averages $186 million in such trades.

Some market sectors that have fallen the most in recent weeks, such as banking and insurance, also saw the most buying activity, the paper said.

In the U.S., stock buys by management at S&P 500 banks, lenders and insurance companies hit a 12-year-high according to Bloomberg data quoted in the news report.

Meanwhile, insider sales have dropped correspondingly, to $2.9 billion compared to a four-year monthly average of $4 billion average, the paper reported.

In the past, markets have risen about 12 months after periods of strong insider buying, according to the Financial Times.