Robert Kelly Doherty Acquires 1,500 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock

Key Points

• Robert Kelly Doherty, a director at Selective Insurance Group, purchased 1,500 shares at an average price of $77.00 per share, increasing his stake in the company by 5.86%.
• The company reported a missed earnings per share estimate of $1.31, falling short of the expected $1.55 in its recent quarterly earnings.
• Select Insurance Group declared a quarterly dividend of $0.38 per share, representing a yield of 1.9% and a payout ratio of 24.88%.

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) Director Robert Kelly Doherty purchased 1,500 shares of the stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $77.00 per share, with a total value of $115,500.00. Following the transaction, the director directly owned 27,110 shares in the company, valued at approximately $2,087,470. This trade represents a 5.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Selective Insurance Group Stock Performance

Selective Insurance Group stock traded up $0.43 during mid-day trading on Wednesday, reaching $78.44. 92,851 shares of the company traded hands, compared to its average volume of 450,450. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $103.56. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 12.83 and a beta of 0.47. The firm's fifty day moving average is $85.23 and its two-hundred day moving average is $86.62.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.55 by ($0.24). The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same quarter in the previous year, the company posted ($1.10) EPS. On average, equities research analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share 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 1.9%. Selective Insurance Group's dividend payout ratio is presently 24.88%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a research report on Monday, July 28th. Piper Sandler decreased their target price on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. BMO Capital Markets set a $88.00 target price on shares of Selective Insurance Group and gave the company an "outperform" rating in a research report on Tuesday. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley cut shares of Selective Insurance Group from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $86.00 to $72.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $87.33.

Institutional Trading of Selective Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SIGI. LPL Financial LLC increased its stake in shares of Selective Insurance Group by 4.6% in the fourth quarter. LPL Financial LLC now owns 54,306 shares of the insurance provider's stock worth $5,079,000 after acquiring an additional 2,366 shares during the period. JPMorgan Chase & Co. grew its position in Selective Insurance Group by 18.1% during the fourth quarter. JPMorgan Chase & Co. now owns 478,609 shares of the insurance provider's stock valued at $44,760,000 after buying an additional 73,456 shares during the period. Pictet Asset Management Holding SA grew its position in Selective Insurance Group by 14.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,490 shares of the insurance provider's stock valued at $888,000 after buying an additional 1,181 shares during the period. O Shaughnessy Asset Management LLC grew its position in Selective Insurance Group by 8.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,542 shares of the insurance provider's stock valued at $238,000 after buying an additional 202 shares during the period. Finally, Franklin Resources Inc. grew its position in Selective Insurance Group by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 6,698 shares of the insurance provider's stock valued at $626,000 after buying an additional 402 shares during the period. Institutional investors and hedge funds own 82.88% of the company's stock.

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.