Selective Insurance Group Inc. (SIGI) Director Michael J. Morrissey Sells 2,364 Shares
Selective Insurance Group Inc. (NASDAQ:SIGI) Director Michael J. Morrissey sold 2,364 shares of Selective Insurance Group stock in a transaction on Friday, November 25th. The shares were sold at an average price of $42.30, for a total transaction of $99,997.20. Following the completion of the sale, the director now directly owns 17,583 shares of the company’s stock, valued at approximately $743,760.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Selective Insurance Group Inc. (NASDAQ:SIGI) traded down 0.83% during trading on Monday, reaching $41.90. The company’s stock had a trading volume of 220,798 shares. The firm has a market cap of $2.42 billion, a P/E ratio of 14.97 and a beta of 1.22. Selective Insurance Group Inc. has a one year low of $29.27 and a one year high of $42.55. The stock’s 50 day moving average is $39.07 and its 200 day moving average is $38.57.
Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, October 26th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by $0.08. The business 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%. Selective Insurance Group’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. On average, equities analysts forecast that Selective Insurance Group Inc. will post $2.60 EPS for the current fiscal year.
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, November 10th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.15. Selective Insurance Group’s dividend payout ratio is currently 22.78%.
Several brokerages have weighed in on SIGI. Zacks Investment Research upgraded Selective Insurance Group from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Saturday, October 15th. Keefe, Bruyette & Woods set a $41.00 price objective on Selective Insurance Group and gave the company a “hold” rating in a research note on Monday, August 1st.
Several institutional investors have recently made changes to their positions in SIGI. State Street Corp increased its position in shares of Selective Insurance Group by 2.6% in the first quarter. State Street Corp now owns 1,121,344 shares of the company’s stock worth $41,051,000 after buying an additional 28,934 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Selective Insurance Group by 8.3% in the first quarter. Geode Capital Management LLC now owns 545,530 shares of the company’s stock worth $19,971,000 after buying an additional 41,966 shares in the last quarter. A.R.T. Advisors LLC boosted its stake in shares of Selective Insurance Group by 38.0% in the first quarter. A.R.T. Advisors LLC now owns 22,897 shares of the company’s stock valued at $838,000 after buying an additional 6,300 shares during the last quarter. Barclays PLC purchased a new stake in shares of Selective Insurance Group during the first quarter valued at $1,309,000. Finally, Panagora Asset Management Inc. boosted its stake in shares of Selective Insurance Group by 3.4% in the first quarter. Panagora Asset Management Inc. now owns 308,680 shares of the company’s stock valued at $11,301,000 after buying an additional 10,087 shares during the last quarter. Institutional investors own 77.80% 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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