Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Michael J. Morrissey sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $74.99, for a total value of $224,970.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ:SIGI opened at $75.53 on Friday. Selective Insurance Group, Inc. has a 1-year low of $48.04 and a 1-year high of $78.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s fifty day moving average is $75.95. The company has a market capitalization of $4.53 billion, a P/E ratio of 13.49, a PEG ratio of 1.52 and a beta of 0.83.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, April 28th. The insurance provider reported $1.70 EPS for the quarter, topping the consensus estimate of $0.97 by $0.73. The company had revenue of $803.90 million during the quarter, compared to the consensus estimate of $756.43 million. Selective Insurance Group had a return on equity of 12.46% and a net margin of 11.12%. Selective Insurance Group’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. On average, analysts expect that Selective Insurance Group, Inc. will post 5.35 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of Selective Insurance Group by 2.5% during the first quarter. Russell Investments Group Ltd. now owns 198,469 shares of the insurance provider’s stock valued at $14,394,000 after purchasing an additional 4,807 shares during the last quarter. Inspire Advisors LLC purchased a new position in shares of Selective Insurance Group during the fourth quarter valued at approximately $26,000. BlackRock Inc. raised its holdings in shares of Selective Insurance Group by 5.9% during the first quarter. BlackRock Inc. now owns 7,072,267 shares of the insurance provider’s stock valued at $513,023,000 after purchasing an additional 394,010 shares during the last quarter. IndexIQ Advisors LLC purchased a new position in shares of Selective Insurance Group during the first quarter valued at approximately $397,000. Finally, The PNC Financial Services Group Inc. raised its holdings in shares of Selective Insurance Group by 4.8% during the first quarter. The PNC Financial Services Group Inc. now owns 30,564 shares of the insurance provider’s stock valued at $2,218,000 after purchasing an additional 1,405 shares during the last quarter. 79.14% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on SIGI shares. Bank of America assumed coverage on Selective Insurance Group in a research note on Friday, May 21st. They set a “neutral” rating and a $83.00 price objective for the company. Royal Bank of Canada increased their price objective on Selective Insurance Group from $67.00 to $71.00 and gave the stock a “sector perform” rating in a report on Thursday, April 8th. JMP Securities increased their price objective on Selective Insurance Group from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, April 16th. Finally, Zacks Investment Research downgraded Selective Insurance Group from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a report on Monday, April 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $76.40.
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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