Insider Buying: Selective Insurance Group Inc. (SIGI) Director Purchases $107,996.00 in Stock
Selective Insurance Group Inc. (NASDAQ:SIGI) Director Robert Kelly Doherty bought 2,900 shares of Selective Insurance Group stock in a transaction dated Wednesday, November 9th. The stock was purchased at an average cost of $37.24 per share, for a total transaction of $107,996.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Selective Insurance Group Inc. (NASDAQ:SIGI) opened at 39.65 on Monday. The firm’s 50-day moving average price is $38.75 and its 200 day moving average price is $38.17. The company has a market capitalization of $2.29 billion, a PE ratio of 14.17 and a beta of 1.22. Selective Insurance Group Inc. has a 52 week low of $29.27 and a 52 week high of $41.30.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by $0.08. The company had revenue of $581.70 million for the quarter, compared to analyst estimates of $462.11 million. Selective Insurance Group had a return on equity of 10.96% and a net margin of 7.32%. Selective Insurance Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. Equities analysts predict that Selective Insurance Group Inc. will post $2.60 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.16 per share. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, November 10th. Selective Insurance Group’s dividend payout ratio is presently 22.78%.
Several large investors have recently bought and sold shares of the company. 1st Global Advisors Inc. purchased a new stake in Selective Insurance Group during the second quarter valued at about $204,000. Vanguard Group Inc. raised its stake in Selective Insurance Group by 3.9% in the second quarter. Vanguard Group Inc. now owns 4,330,663 shares of the company’s stock valued at $165,474,000 after buying an additional 161,513 shares during the last quarter. Bank of Montreal Can purchased a new stake in Selective Insurance Group during the second quarter valued at about $4,936,000. State Street Corp raised its stake in Selective Insurance Group by 2.6% in the first quarter. State Street Corp now owns 1,121,344 shares of the company’s stock valued at $41,051,000 after buying an additional 28,934 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in Selective Insurance Group by 38.5% in the second quarter. Frontier Capital Management Co. LLC now owns 1,387,530 shares of the company’s stock valued at $53,018,000 after buying an additional 385,549 shares during the last quarter. 75.97% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on SIGI. Zacks Investment Research raised Selective Insurance Group from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Saturday, October 15th. Keefe, Bruyette & Woods set a $41.00 price objective on Selective Insurance Group and gave the stock a “hold” rating in a research note on Monday, August 1st.
About Selective Insurance Group
Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.
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