Selective Insurance Group (NASDAQ:SIGI) Sets New 12-Month High at $108.23

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $108.23 and last traded at $108.23, with a volume of 6269 shares. The stock had previously closed at $107.42.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SIGI shares. Keefe, Bruyette & Woods cut their price objective on Selective Insurance Group from $111.00 to $109.00 and set a "market perform" rating for the company in a research report on Tuesday, February 6th. Royal Bank of Canada cut their price objective on Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating for the company in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $105.50.

Selective Insurance Group Stock Performance

The company has a market capitalization of $6.62 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 0.76 and a beta of 0.55. The firm has a 50 day moving average price of $103.34 and a two-hundred day moving average price of $102.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. On average, research analysts expect that Selective Insurance Group, Inc. will post 7.68 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.35 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.28%. Selective Insurance Group's dividend payout ratio is currently 24.01%.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the sale, the chief operating officer now directly owns 10,511 shares in the company, valued at approximately $1,112,904.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Selective Insurance Group

Large investors have recently bought and sold shares of the business. Janiczek Wealth Management LLC boosted its position in Selective Insurance Group by 186.5% in the 3rd quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider's stock valued at $26,000 after buying an additional 166 shares during the last quarter. Blue Trust Inc. boosted its position in Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider's stock valued at $27,000 after buying an additional 104 shares during the last quarter. Lazard Asset Management LLC bought a new position in Selective Insurance Group in the 3rd quarter valued at $36,000. Point72 Hong Kong Ltd bought a new position in Selective Insurance Group in the 4th quarter valued at $40,000. Finally, Headinvest LLC bought a new position in Selective Insurance Group in the 3rd quarter valued at $62,000. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.