Michael J. Morrissey Sells 2,483 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Michael J. Morrissey sold 2,483 shares of Selective Insurance Group stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $50.46, for a total value of $125,292.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Selective Insurance Group, Inc. (SIGI) traded up 0.79% during trading on Tuesday, reaching $51.25. The company had a trading volume of 35,480 shares. The firm has a market capitalization of $2.99 billion, a P/E ratio of 17.85 and a beta of 1.44. The company has a 50 day moving average of $50.74 and a 200-day moving average of $47.82. Selective Insurance Group, Inc. has a 52-week low of $34.95 and a 52-week high of $53.75.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $614.50 million during the quarter, compared to the consensus estimate of $611.62 million. Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. Equities analysts expect that Selective Insurance Group, Inc. will post $3.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.16 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. Selective Insurance Group’s dividend payout ratio is presently 22.22%.

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Several large investors have recently made changes to their positions in SIGI. Guggenheim Capital LLC increased its stake in shares of Selective Insurance Group by 89.7% in the fourth quarter. Guggenheim Capital LLC now owns 62,379 shares of the insurance provider’s stock valued at $2,686,000 after buying an additional 29,504 shares during the period. Norges Bank acquired a new stake in shares of Selective Insurance Group during the fourth quarter valued at about $27,367,000. Macquarie Group Ltd. increased its stake in shares of Selective Insurance Group by 0.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,906,731 shares of the insurance provider’s stock valued at $125,135,000 after buying an additional 21,766 shares during the period. Copper Rock Capital Partners LLC increased its stake in shares of Selective Insurance Group by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 597,885 shares of the insurance provider’s stock valued at $28,101,000 after buying an additional 10,061 shares during the period. Finally, GW&K Investment Management LLC acquired a new stake in shares of Selective Insurance Group during the first quarter valued at about $251,000. Institutional investors own 77.58% of the company’s stock.

A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. ValuEngine lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $50.00 target price on shares of Selective Insurance Group in a report on Friday, July 28th. Boenning Scattergood reissued a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Finally, BidaskClub cut Selective Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Selective Insurance Group has an average rating of “Hold” and an average target price of $47.73.

About Selective Insurance Group

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

Insider Buying and Selling by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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