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Selective Insurance Group Inc. (NASDAQ:SIGI), a $5.3 billion market cap insurer with a "GOOD" InvestingPro Financial Health score, saw its President and CEO John J. Marchioni recently acquire 1,180 shares of the company’s common stock. The purchase, valued at approximately $102,288, was executed at a price of $86.69 per share. Following this transaction, Marchioni’s total holdings amount to 136,575 shares owned indirectly by a trust, in addition to 15,089 shares held directly. The company has maintained dividend payments for 51 consecutive years, with 11 years of consecutive increases, demonstrating strong shareholder commitment. According to InvestingPro, which offers comprehensive insider trading analysis among its features, the stock is currently trading near its Fair Value.
In other recent news, Selective Insurance Group reported its fourth-quarter 2024 earnings, missing analyst expectations with an earnings per share (EPS) of $1.62 compared to the projected $1.99. Despite the earnings shortfall, the company exceeded revenue forecasts, reporting $1.26 billion against the expected $1.09 billion. In a strategic financial move, Selective Insurance Group successfully issued $400 million in senior notes at a 5.900% interest rate, set to mature in 2035. The issuance was facilitated by Goldman Sachs, BofA Securities, and Wells Fargo (NYSE:WFC) Securities.
Meanwhile, Keefe, Bruyette & Woods downgraded Selective Insurance’s stock rating from Outperform to Market Perform, adjusting the price target from $116 to $93. This downgrade followed a revision in the company’s EPS estimates for 2025 and 2026, reflecting anticipated higher core loss ratios. Morgan Stanley (NYSE:MS) also revised its price target for Selective Insurance, lowering it from $95 to $87 while maintaining an Equalweight rating. The firm’s analysts attributed this adjustment to increased catastrophe forecasts and ongoing social inflation pressures within the industry. These developments provide investors with crucial insights into Selective Insurance Group’s recent financial activities and market positioning.
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