Insider Buying Sparks Interest in Selective Insurance Group Inc (SIGI)
Our latest review of the Dividend Channel ”DividendRank” report highlights companies with insider buying over the last six months. When corporate leaders invest their own money in their company’s stock, it often signals confidence in its value or potential growth. One notable example is Selective Insurance Group Inc (Symbol: SIGI), where Director Terrence W. Cavanaugh has made a significant investment.
On July 23, Cavanaugh purchased 2,000 shares of SIGI for a total of $171,700.00, resulting in a purchase price of $85.85 per share. In Wednesday’s trading, SIGI shares reached a low of $91.26, reflecting a 6.3% gain over Cavanaugh’s entry price. Since his investment, he has also received $0.35 per share in dividends, bringing his total return to 6.7%. On the day of reporting, Selective Insurance Group is up by 2.53%. Below is a chart displaying SIGI’s one-year performance compared to its 200-day moving average:
Examining the chart, SIGI’s shares reached a low of $81 over the past year, while the high point was $109.58, with its latest trade at $92.06. The table below outlines recent insider buying activity:
Purchased | Insider | Title | Shares | Price/Share | Value |
---|---|---|---|---|---|
07/22/2024 | John J. Marchioni | President and CEO | 2,400 | $83.56 | $200,532.00 |
07/23/2024 | Terrence W. Cavanaugh | Director | 2,000 | $85.85 | $171,700.00 |
The DividendRank report emphasizes that SIGI shares reveal strong valuation and profitability metrics. Additionally, the company boasts a solid history of quarterly dividends and positive long-term growth rates in essential financial statistics.
According to the report, ”Dividend investors looking for value are often most interested in powerful, profitable companies that are trading at attractive valuations. Our proprietary DividendRank formula helps identify such stocks within our coverage universe, highlighting those worthy of further investigation.”
Selective Insurance Group Inc currently pays an annualized dividend of $1.52 per share, distributed quarterly. The latest ex-dividend date was on November 15, 2024. Below is a long-term chart showcasing SIGI’s dividend history, as emphasized in the report. A company’s past dividend performance can be indicative of its future prospects.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.