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 purchased 2,500 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average price of $77.42 per share, with a total value of $193,550.00. Following the completion of the transaction, the director owned 18,746 shares of the company's stock, valued at $1,451,315.32. The trade was a 15.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Selective Insurance Group Stock Down 0.6%

SIGI stock traded down $0.50 during trading on Friday, hitting $77.47. 639,948 shares of the company's stock traded hands, compared to its average volume of 728,057. The firm has a market capitalization of $4.71 billion, a P/E ratio of 12.68 and a beta of 0.47. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year 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. The business has a fifty day simple moving average of $85.57 and a two-hundred day simple moving average of $86.88.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results 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 return on equity of 12.61% and a net margin of 7.50%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted ($1.10) earnings per share. Sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. Selective Insurance Group's payout ratio is currently 24.88%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SIGI. Piper Sandler lowered 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 report on Friday, July 25th. Morgan Stanley reduced their price objective 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, July 25th. BMO Capital Markets raised their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods reduced their price target on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating on the stock in a report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $91.00.

Institutional Trading of Selective Insurance Group

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