Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Thomas A. Mccarthy Acquires 2,500 Shares

Key Points

• Director Acquisition: Thomas A. McCarthy, a director at Selective Insurance Group, acquired 2,500 shares at an average price of $77.42 per share, which increases his total holdings to 18,746 shares.
• Quarterly Earnings Miss: The company reported earnings of $1.31 EPS for the last quarter, missing analysts' estimates of $1.55 EPS, with revenue falling short at $1.29 billion compared to the expected $1.32 billion.
• Dividend Announcement: Selective Insurance announced a quarterly dividend of $0.38 per share, with a payout ratio of 24.88%, and the dividend will be paid on September 2nd.

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) Director Thomas A. Mccarthy bought 2,500 shares of the business's stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $77.42 per share, for a total transaction of $193,550.00. Following the transaction, the director directly owned 18,746 shares of the company's stock, valued at approximately $1,451,315.32. This represents a 15.39% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Selective Insurance Group Price Performance

NASDAQ:SIGI traded up $2.59 during trading hours on Tuesday, hitting $81.02. The company's stock had a trading volume of 1,248,160 shares, compared to its average volume of 445,959. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $103.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.33. The business's 50-day moving average is $86.23 and its two-hundred day moving average is $87.17. The company has a market capitalization of $4.92 billion, a PE ratio of 13.26 and a beta of 0.48.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced 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). Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the business earned ($1.10) EPS. As a group, research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, August 15th. Selective Insurance Group's payout ratio is currently 24.88%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Selective Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Olde Wealth Management LLC acquired a new stake in Selective Insurance Group in the first quarter valued at $28,000. Parallel Advisors LLC boosted its position in shares of Selective Insurance Group by 219.5% in the 2nd quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider's stock worth $31,000 after buying an additional 248 shares in the last quarter. Amundi grew its stake in Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 311 shares during the last quarter. Quarry LP acquired a new stake in Selective Insurance Group in the 4th quarter valued at about $38,000. Finally, Brooklyn Investment Group purchased a new position in Selective Insurance Group during the 1st quarter valued at about $38,000. 82.88% of the stock is owned by institutional investors and hedge funds.

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.

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