Insider Selling: Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Sells 3,000 Shares of Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Michael J. Morrissey sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $74.99, for a total transaction of $224,970.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ SIGI opened at $75.53 on Friday. Selective Insurance Group, Inc. has a 12 month low of $48.04 and a 12 month high of $78.99. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.52 and a beta of 0.83. The company’s 50 day moving average is $75.95. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.22.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, April 28th. The insurance provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.73. The firm had revenue of $803.90 million during the quarter, compared to analyst estimates of $756.43 million. Selective Insurance Group had a return on equity of 12.46% and a net margin of 11.12%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. Analysts forecast that Selective Insurance Group, Inc. will post 5.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Selective Insurance Group’s dividend payout ratio (DPR) is 24.10%.

SIGI has been the topic of several recent analyst reports. JMP Securities upped their price target on shares of Selective Insurance Group from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, April 16th. Bank of America assumed coverage on shares of Selective Insurance Group in a research note on Friday, May 21st. They set a “neutral” rating and a $83.00 target price for the company. Royal Bank of Canada raised their price target on shares of Selective Insurance Group from $67.00 to $71.00 and gave the company a “sector perform” rating in a research note on Thursday, April 8th. Finally, Zacks Investment Research downgraded Selective Insurance Group from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a research report on Monday, April 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Selective Insurance Group currently has an average rating of “Hold” and an average target price of $76.40.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Selective Insurance Group by 5.9% in the first quarter. BlackRock Inc. now owns 7,072,267 shares of the insurance provider’s stock valued at $513,023,000 after buying an additional 394,010 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Selective Insurance Group by 2.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,722,757 shares of the insurance provider’s stock worth $197,509,000 after purchasing an additional 54,182 shares during the period. Champlain Investment Partners LLC raised its position in shares of Selective Insurance Group by 1.7% during the first quarter. Champlain Investment Partners LLC now owns 1,510,755 shares of the insurance provider’s stock worth $109,590,000 after purchasing an additional 25,665 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Selective Insurance Group by 0.7% during the first quarter. Alliancebernstein L.P. now owns 1,449,190 shares of the insurance provider’s stock valued at $105,124,000 after purchasing an additional 9,485 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Selective Insurance Group by 15.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,320,508 shares of the insurance provider’s stock valued at $88,448,000 after purchasing an additional 180,661 shares during the period. 79.14% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real and/or personal property, or earnings; and 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 as a result of an insured's negligent acts, omissions, or legal liabilities, as well as flood insurance products.

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