John J. Marchioni Sells 17,107 Shares of Selective Insurance Group Inc. (SIGI) Stock
Selective Insurance Group Inc. (NASDAQ:SIGI) COO John J. Marchioni sold 17,107 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $40.42, for a total value of $691,464.94. Following the completion of the sale, the chief operating officer now directly owns 121,148 shares in the company, valued at $4,896,802.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Selective Insurance Group Inc. (NASDAQ:SIGI) traded up 0.12% during trading on Monday, hitting $40.70. 125,579 shares of the stock traded hands. Selective Insurance Group Inc. has a 12 month low of $29.27 and a 12 month high of $41.30. The firm has a market cap of $2.35 billion, a PE ratio of 14.54 and a beta of 1.22. The firm has a 50-day moving average price of $38.77 and a 200 day moving average price of $38.33.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by $0.08. The firm had revenue of $581.70 million for the quarter, compared to the consensus estimate of $462.11 million. Selective Insurance Group had a net margin of 7.32% and a return on equity of 10.96%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, equities analysts forecast that Selective Insurance Group Inc. will post $2.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.57%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 10th. Selective Insurance Group’s dividend payout ratio is presently 22.78%.
Several analysts have commented on SIGI shares. Zacks Investment Research lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, October 29th. Keefe, Bruyette & Woods set a $41.00 target price on shares of Selective Insurance Group and gave the company a “hold” rating in a report on Monday, August 1st.
A number of institutional investors have recently modified their holdings of SIGI. Advisor Group Inc. purchased a new position in shares of Selective Insurance Group during the second quarter valued at approximately $107,000. D.A. Davidson & CO. increased its position in shares of Selective Insurance Group by 454.5% in the third quarter. D.A. Davidson & CO. now owns 3,050 shares of the company’s stock valued at $121,000 after buying an additional 2,500 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Selective Insurance Group by 77.4% in the second quarter. Victory Capital Management Inc. now owns 3,097 shares of the company’s stock valued at $118,000 after buying an additional 1,351 shares during the last quarter. BlackRock Inc. increased its position in shares of Selective Insurance Group by 112.7% in the first quarter. BlackRock Inc. now owns 3,815 shares of the company’s stock valued at $140,000 after buying an additional 2,021 shares during the last quarter. Finally, Societe Generale purchased a new position in shares of Selective Insurance Group during the second quarter valued at approximately $180,000. Institutional investors own 77.93% of the company’s stock.
Selective Insurance Group Company Profile
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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