Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Purchases $151,440.00 in Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Terrence W. Cavanaugh purchased 2,000 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $75.72 per share, with a total value of $151,440.00. Following the completion of the acquisition, the director owned 25,295 shares of the company’s stock, valued at approximately $1,915,337.40. The trade was a 8.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Selective Insurance Group Stock Performance

Selective Insurance Group stock opened at $77.63 on Friday. The stock has a fifty day moving average price of $86.46 and a 200 day moving average price of $87.30. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $103.56. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $4.72 billion, a P/E ratio of 12.71 and a beta of 0.48.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.24). Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm posted ($1.10) EPS. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, August 15th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.88%.

Institutional Investors Weigh In On Selective Insurance Group

A number of institutional investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Selective Insurance Group in the fourth quarter worth about $203,000. HighTower Advisors LLC boosted its position in shares of Selective Insurance Group by 14.5% in the fourth quarter. HighTower Advisors LLC now owns 4,560 shares of the insurance provider’s stock worth $426,000 after buying an additional 576 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Selective Insurance Group in the fourth quarter worth about $1,032,000. Sei Investments Co. boosted its position in shares of Selective Insurance Group by 151.9% in the fourth quarter. Sei Investments Co. now owns 83,562 shares of the insurance provider’s stock worth $7,815,000 after buying an additional 50,386 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Selective Insurance Group in the fourth quarter worth about $1,188,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SIGI. Keefe, Bruyette & Woods cut their price target on Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. Piper Sandler dropped their target price on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday. Wall Street Zen upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley dropped their target price on Selective Insurance Group from $90.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, BMO Capital Markets upped their target price on Selective Insurance Group from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Selective Insurance Group has an average rating of “Hold” and a consensus price target of $92.33.

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.