 Affiliated Managers Group Inc NYSE:AMG was trading 2.2 higher from the previous closing price. A Form 4 filing filed with the SEC on Thursday, June 11 showed that Churchill Dwight D. bought 1,000 shares at an average price of 77.94. The transaction moved the executives stake in Affiliated Managers Group Inc. to 10,069 shares.Why Insider Transactions Are Important? While transactions from an insider shouldnt be used as the sole item to make an investment or trading decision, an insider buying or selling stock in their company can be a good added factor that leads to more conviction in a decision. When an insider buys stock after an important sell off, that can indicate the insiders faith in the success of the organization. Henceforth, if the stock is bought at new highs, it might be because the insider feels that the stock is not overvalued. Conversely, insiders who are selling stock at new lows can potentially indicate some kind of capitulation moment. Insiders selling at new highs can indicate that exec wants to take some profit and lock in a gain.Important Transaction Codes Wall Street tends to focus on insider transactions which take place in the open market, viewed inside a Form 4 filing via codes P for purchase and S for sale. if the transaction was an open-market transaction, that means that the insider made a concious decision for the companys stock moving forward. Transaction codes besides P or S arent relatively important as they are seldom tied to a decision by the executive. For example, transaction code A is indicative of an insider being forced to sell shares to attaincompensation. Moreover, transaction code C indicates the conversion of an option.See more from Benzinga Affiliated Managers Group: Q1 Earnings InsightsC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 