Selective Insurance Group, Inc. (NASDAQ:SIGI) EVP Joseph Eppers Buys 1,402 Shares

Key Points

• Joseph Eppers, EVP of Selective Insurance Group, purchased 1,402 shares of the company's stock at an average price of $76.82, increasing his ownership by 12.64%.
• The company reported a quarterly EPS of $1.31, missing the consensus estimate of $1.55, with revenue of $1.29 billion compared to the expected $1.32 billion.
• Select Insurance Group will pay a quarterly dividend of $0.38 on September 2nd, representing an annualized dividend yield of 1.96%.

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) EVP Joseph Eppers bought 1,402 shares of the company's stock in a transaction on Friday, July 25th. The shares were bought at an average price of $76.82 per share, with a total value of $107,701.64. Following the completion of the transaction, the executive vice president owned 12,492 shares of the company's stock, valued at $959,635.44. The trade was a 12.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Selective Insurance Group Trading Up 3.5%

NASDAQ:SIGI traded up $2.63 during midday trading on Friday, reaching $77.63. 1,657,484 shares of the stock traded hands, compared to its average volume of 436,120. The company has a fifty day moving average of $86.69 and a 200 day moving average of $87.39. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $103.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $4.72 billion, a P/E ratio of 12.71 and a beta of 0.48.

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 return on equity of 12.81% 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 quarter last year, the company posted ($1.10) earnings per share. On average, research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.38 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.52 annualized dividend and a yield of 1.96%. Selective Insurance Group's dividend payout ratio (DPR) is presently 41.42%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new stake in Selective Insurance Group in the fourth quarter worth about $203,000. HighTower Advisors LLC grew its holdings in shares of Selective Insurance Group by 14.5% during the fourth quarter. HighTower Advisors LLC now owns 4,560 shares of the insurance provider's stock valued at $426,000 after buying an additional 576 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Selective Insurance Group during the fourth quarter valued at approximately $1,032,000. Sei Investments Co. grew its holdings in shares of Selective Insurance Group by 151.9% during the fourth quarter. Sei Investments Co. now owns 83,562 shares of the insurance provider's stock valued at $7,815,000 after buying an additional 50,386 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Selective Insurance Group in the fourth quarter worth approximately $1,188,000. 82.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Piper Sandler cut their price objective on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday. Keefe, Bruyette & Woods cut their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley cut 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 research note on Friday. Finally, Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $92.33.

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.

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