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Selective Insurance Group Inc. (NASDAQ:SIGI) recently saw a significant stock acquisition by its Executive Vice President and Chief Financial Officer, Patrick Sean Brennan. According to a recent filing, Brennan purchased 3,000 shares of the company’s common stock on February 27, 2025. The shares were acquired at a price of $83.15 each, amounting to a total transaction value of $249,450. The purchase comes as the stock trades near its InvestingPro Fair Value, despite falling about 20% over the past year.
Following this acquisition, Brennan’s total direct ownership in Selective Insurance Group stands at approximately 15,081 shares. This figure includes 45.5383 dividend equivalent units, which are the economic equivalent of the company’s common stock. Selective Insurance Group, based in Branchville, New Jersey, is a provider in the fire, marine, and casualty insurance sector. The company has maintained dividend payments for 51 consecutive years and currently offers a 1.86% yield. With a market capitalization of nearly $5 billion and strong dividend history, InvestingPro analysis reveals 8 additional key insights about the company’s financial health and growth prospects.
In other recent news, Selective Insurance Group reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $1.62, which missed analyst forecasts of $1.99. However, the company’s revenue exceeded expectations, reaching $1.26 billion compared to the projected $1.09 billion. Following this, Keefe, Bruyette & Woods downgraded Selective Insurance’s stock rating to Market Perform from Outperform and lowered the price target from $116 to $93. The downgrade was attributed to revised earnings per share estimates for 2025 and 2026, which were adjusted due to expectations of higher core loss ratios. Additionally, Morgan Stanley (NYSE:MS) also reduced its price target for the company from $95 to $87, maintaining an Equalweight rating, citing increased catastrophe forecasts and social inflation impacts on the industry.
Selective Insurance also announced the issuance of $400 million in senior notes, set to mature in 2035, as part of its strategy to manage capital and strengthen its financial position. The notes were issued with an interest rate of 5.900% and are governed by an indenture with U.S. Bank Trust Company as the trustee. These recent developments highlight Selective Insurance Group’s ongoing efforts to address market challenges, including social inflation and reserve adjustments, while continuing to focus on strategic growth and financial stability.
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