Insider Selling: Selective Insurance Group, Inc. (NASDAQ:SIGI) CAO Sells 1,404 Shares of Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) CAO Anthony D. Harnett sold 1,404 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at $1,476,759.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Selective Insurance Group Price Performance

Shares of SIGI stock traded down $2.20 during trading on Friday, hitting $91.37. The company had a trading volume of 202,871 shares, compared to its average volume of 352,281. The stock’s 50-day moving average price is $91.80 and its 200 day moving average price is $93.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 0.35. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58. The firm has a market capitalization of $5.55 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.57 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts expect that Selective Insurance Group, Inc. will post 3.76 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. Selective Insurance Group’s dividend payout ratio is 26.86%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SIGI. Bank of America lifted their price target on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a report on Tuesday. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. BMO Capital Markets upped their target price on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Piper Sandler decreased their target price on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $104.00 to $99.00 in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $100.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SIGI. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group during the third quarter worth $27,000. Quest Partners LLC acquired a new position in shares of Selective Insurance Group during the second quarter worth $28,000. GAMMA Investing LLC increased its holdings in shares of Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Selective Insurance Group during the second quarter worth $44,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Selective Insurance Group during the first quarter worth $48,000. 82.88% of the stock is currently 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. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers 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; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.