Selective Insurance Group, Inc. (NASDAQ:SIGI) CEO John J. Marchioni Buys 3,200 Shares

Key Points

• CEO John J. Marchioni of Selective Insurance Group purchased 3,200 shares at $77.89 each, increasing his ownership to approximately 139,775 shares worth around $10.9 million.
• The company reported a quarterly EPS of $1.31, missing estimates by $0.24, and had a revenue of $1.29 billion, below the anticipated $1.32 billion.
• Select Insurance Group will pay a quarterly dividend of $0.38 on September 2nd, providing a dividend yield of 1.90% with a payout ratio of 24.88%.

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) CEO John J. Marchioni acquired 3,200 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $77.89 per share, with a total value of $249,248.00. Following the completion of the transaction, the chief executive officer owned 139,775 shares of the company's stock, valued at $10,887,074.75. This trade represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Selective Insurance Group Price Performance

NASDAQ:SIGI traded down $1.61 during mid-day trading on Wednesday, hitting $79.41. 736,183 shares of the stock traded hands, compared to its average volume of 671,977. The business's 50-day moving average price is $86.07 and its 200 day moving average price is $87.13. The company has a market cap of $4.83 billion, a PE ratio of 13.00 and a beta of 0.48. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $103.56. The company has a quick ratio of 0.35, a current ratio of 0.33 and a debt-to-equity ratio of 0.28.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.24). Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the prior year, the firm posted ($1.10) EPS. On average, analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a $0.38 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.91%. Selective Insurance Group's dividend payout ratio (DPR) is 24.88%.

Institutional Investors Weigh In On Selective Insurance Group

A number of institutional investors have recently made changes to their positions in SIGI. Olde Wealth Management LLC purchased a new stake in Selective Insurance Group during the 1st quarter valued at $28,000. Parallel Advisors LLC boosted its position in Selective Insurance Group by 219.5% during the 2nd quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider's stock valued at $31,000 after buying an additional 248 shares during the period. Amundi boosted its position in Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider's stock valued at $36,000 after buying an additional 311 shares during the period. Quarry LP purchased a new stake in Selective Insurance Group during the 4th quarter valued at $38,000. Finally, Brooklyn Investment Group bought a new position in Selective Insurance Group in the 1st quarter worth $38,000. Hedge funds and other institutional investors own 82.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Piper Sandler reduced their price target on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Wall Street Zen upgraded shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a report on Monday. Morgan Stanley reduced their price objective on shares of Selective Insurance Group from $90.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Finally, BMO Capital Markets lifted their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $91.00.

About Selective Insurance Group

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.