Selective Insurance Group, Inc. (NASDAQ:SIGI) CAO Sells $117,705.12 in Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) CAO Anthony D. Harnett sold 1,352 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,388,258.76. This trade represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Selective Insurance Group Trading Down 1.9 %

Shares of SIGI stock opened at $87.57 on Monday. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $103.60. The company has a market capitalization of $5.32 billion, a P/E ratio of 27.20 and a beta of 0.45. The firm has a 50-day moving average price of $86.97 and a 200 day moving average price of $91.31. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.13). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business earned $1.33 earnings per share. Research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group’s dividend payout ratio is currently 41.42%.

Hedge Funds Weigh In On Selective Insurance Group

A number of institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in shares of Selective Insurance Group by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,117 shares of the insurance provider’s stock worth $651,000 after acquiring an additional 185 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Selective Insurance Group by 9.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,217 shares of the insurance provider’s stock worth $844,000 after acquiring an additional 832 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Selective Insurance Group by 36.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider’s stock worth $103,280,000 after acquiring an additional 299,925 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Selective Insurance Group by 11.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,317 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 861 shares during the last quarter. Finally, Pullen Investment Management LLC raised its stake in shares of Selective Insurance Group by 77.0% in the first quarter. Pullen Investment Management LLC now owns 22,548 shares of the insurance provider’s stock worth $2,064,000 after acquiring an additional 9,812 shares during the last quarter. 82.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SIGI. Morgan Stanley reduced their target price on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.17.

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.