Yahoo Finance Director Terrence Cavanaugh Acquires Shares of Selective Insurance Group Inc (SIGI)
On July 23, 2024, Terrence Cavanaugh, a Director at Selective Insurance Group Inc (NASDAQ:SIGI), purchased 2,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 20,650.7038 shares of Selective Insurance Group Inc.
Selective Insurance Group Inc is a provider of insurance products and services in the United States. The company offers a broad range of insurance solutions, including property and casualty insurance, which are distributed through independent agents.
The shares were acquired at a price of $85.85 each, valuing the transaction at $171,700. This purchase aligns with the recent insider buying trend at the company. Over the past year, there have been two insider buys and five insider sells at Selective Insurance Group Inc.
The company's market cap stands at approximately $5.26 billion. The price-earnings ratio is currently 23.60, which is above both the industry median and the company's historical median.
According to GF Value, the stock is considered Modestly Undervalued with a GF Value of $115.96, suggesting potential for price appreciation based on intrinsic value calculations that consider historical trading multiples, adjusted returns, and analyst estimates for the company's future performance.
This insider purchase could signal confidence in the company's future prospects from a key member of Selective Insurance Group Inc's board. Investors often look at insider transactions as a signal of the company's future performance and strategic direction.
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