Michael Lanza Sells 17,100 Shares of Selective Insurance Group (NASDAQ:SIGI) Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) EVP Michael Lanza sold 17,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total value of $1,608,084.00. Following the completion of the sale, the executive vice president owned 16,565 shares in the company, valued at approximately $1,557,772.60. This represents a 50.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Selective Insurance Group Stock Down 2.1%

Shares of Selective Insurance Group stock opened at $94.66 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.29 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a 1-year low of $72.78 and a 1-year high of $100.40. The business’s fifty day moving average price is $93.52 and its two-hundred day moving average price is $86.16. The company has a market capitalization of $5.64 billion, a P/E ratio of 11.74 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.29. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.During the same quarter in the prior year, the business posted $1.31 earnings per share. As a group, research analysts forecast that Selective Insurance Group, Inc. will post 7.98 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, August 17th. Selective Insurance Group’s dividend payout ratio is currently 21.34%.

Analyst Ratings Changes

SIGI has been the subject of a number of research analyst reports. Oppenheimer upped their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Morgan Stanley raised their target price on Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Weiss Ratings raised Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Royal Bank Of Canada boosted their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price objective for the company. in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.33.

Institutional Investors Weigh In On Selective Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. acquired a new position in shares of Selective Insurance Group in the 4th quarter worth $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Selective Insurance Group during the fourth quarter valued at $25,000. Amundi boosted its position in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares during the period. First Horizon Corp boosted its position in shares of Selective Insurance Group by 52.8% in the 4th quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 190 shares during the period. Finally, IFP Advisors Inc increased its stake in Selective Insurance Group by 177.5% in the 4th quarter. IFP Advisors Inc now owns 591 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 378 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.