Selective Insurance Group Inc. (NASDAQ:SIGI) Director Michael J. Morrissey sold 2,364 shares of the company’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $42.30, for a total value of $99,997.20. Following the completion of the sale, the director now directly owns 17,583 shares in the company, valued at $743,760.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Selective Insurance Group Inc. (NASDAQ:SIGI) traded down 0.83% during midday trading on Monday, hitting $41.90. The stock had a trading volume of 220,798 shares. The company’s 50 day moving average price is $39.07 and its 200-day moving average price is $38.57. Selective Insurance Group Inc. has a 52-week low of $29.27 and a 52-week high of $42.55. The stock has a market cap of $2.42 billion, a PE ratio of 14.97 and a beta of 1.22.
Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, October 26th. The company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.08. The company earned $581.70 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 EPS. Analysts forecast that Selective Insurance Group Inc. will post $2.60 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, November 10th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.78%.
Several large investors have recently modified their holdings of SIGI. Advisor Group Inc. acquired a new stake in shares of Selective Insurance Group during the second quarter worth about $107,000. Victory Capital Management Inc. raised its stake 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 worth $118,000 after buying an additional 1,351 shares in the last quarter. D.A. Davidson & CO. raised its stake 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 worth $121,000 after buying an additional 2,500 shares in the last quarter. Societe Generale acquired a new stake in shares of Selective Insurance Group during the second quarter worth about $180,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Selective Insurance Group during the second quarter worth about $180,000. 77.80% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on SIGI. Zacks Investment Research raised Selective Insurance Group from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Saturday, October 15th. Keefe, Bruyette & Woods set a $41.00 price target on Selective Insurance Group and gave the stock a “hold” rating in a research note on Monday, August 1st.
About Selective Insurance Group