Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Michael J. Morrissey sold 3,000 shares of Selective Insurance Group stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $74.99, for a total value of $224,970.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
SIGI traded up $0.58 during trading on Thursday, reaching $75.53. 218,082 shares of the stock were exchanged, compared to its average volume of 228,217. The stock's 50 day moving average price is $75.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $4.53 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. Selective Insurance Group, Inc. has a 1 year low of $48.04 and a 1 year high of $78.99.
Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, April 28th. The insurance provider reported $1.70 EPS for the quarter, topping the Zacks' consensus estimate of $0.97 by $0.73. The company had revenue of $803.90 million for the quarter, compared to the consensus estimate of $756.43 million. Selective Insurance Group had a return on equity of 12.46% and a net margin of 11.12%. Selective Insurance Group's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 5.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. Selective Insurance Group's payout ratio is 24.10%.
A number of institutional investors and hedge funds have recently bought and sold shares of SIGI. BlackRock Inc. lifted its position in shares of Selective Insurance Group by 5.9% in the first quarter. BlackRock Inc. now owns 7,072,267 shares of the insurance provider's stock valued at $513,023,000 after acquiring an additional 394,010 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Selective Insurance Group by 2.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,722,757 shares of the insurance provider's stock valued at $197,509,000 after acquiring an additional 54,182 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Selective Insurance Group by 1.7% in the first quarter. Champlain Investment Partners LLC now owns 1,510,755 shares of the insurance provider's stock valued at $109,590,000 after acquiring an additional 25,665 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Selective Insurance Group by 0.7% in the first quarter. Alliancebernstein L.P. now owns 1,449,190 shares of the insurance provider's stock valued at $105,124,000 after acquiring an additional 9,485 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Selective Insurance Group by 15.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,320,508 shares of the insurance provider's stock valued at $88,448,000 after acquiring an additional 180,661 shares in the last quarter. Institutional investors own 79.14% of the company's stock.
SIGI has been the topic of a number of analyst reports. Zacks Investment Research downgraded Selective Insurance Group from a "buy" rating to a "hold" rating and set a $77.00 price target on the stock. in a research note on Monday, April 5th. Bank of America initiated coverage on Selective Insurance Group in a research note on Friday, May 21st. They issued a "neutral" rating and a $83.00 price target on the stock. JMP Securities lifted their price target on Selective Insurance Group from $72.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, April 16th. Finally, Royal Bank of Canada lifted their price target on Selective Insurance Group from $67.00 to $71.00 and gave the company a "sector perform" rating in a research note on Thursday, April 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of "Hold" and an average price target of $76.40.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real and/or personal property, or earnings; and 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 as a result of an insured's negligent acts, omissions, or legal liabilities, as well as flood insurance products.
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