Selective Insurance Group Inc. (SIGI) Reaches New 1-Year High at $39.22
Selective Insurance Group Inc. (NASDAQ:SIGI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $39.22 and last traded at $39.16, with a volume of 80,874 shares. The stock had previously closed at $38.35.
SIGI has been the subject of a number of research reports. Zacks Investment Research lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, April 7th. Keefe, Bruyette & Woods initiated coverage on shares of Selective Insurance Group in a report on Wednesday, May 4th. They set a “market perform” rating and a $38.50 target price for the company.
The stock has a 50 day moving average price of $37.23 and a 200-day moving average price of $34.76. The firm has a market capitalization of $2.26 billion and a price-to-earnings ratio of 14.03.
Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, May 4th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The business had revenue of $551.50 million for the quarter, compared to analysts’ expectations of $553.99 million. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. On average, equities research analysts forecast that Selective Insurance Group Inc. will post $2.68 EPS for the current fiscal year.
In related news, CFO Dale A. Thatcher sold 12,953 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $35.76, for a total transaction of $463,199.28. Following the completion of the sale, the chief financial officer now directly owns 126,284 shares of the company’s stock, valued at $4,515,915.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul D. Bauer sold 1,500 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $37.00, for a total value of $55,500.00. Following the sale, the director now directly owns 75,250 shares of the company’s stock, valued at $2,784,250. The disclosure for this sale can be found here.
Several large investors recently modified their holdings of SIGI. Shell Asset Management Co. increased its stake in shares of Selective Insurance Group by 3.8% in the fourth quarter. Shell Asset Management Co. now owns 97,052 shares of the company’s stock valued at $3,259,000 after buying an additional 3,590 shares in the last quarter. Eagle Asset Management increased its stake in Selective Insurance Group by 14.2% in the third quarter. Eagle Asset Management now owns 155,976 shares of the company’s stock worth $4,844,000 after buying an additional 19,386 shares during the period. California State Teachers Retirement System increased its stake in Selective Insurance Group by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 105,582 shares of the company’s stock worth $3,545,000 after buying an additional 1,774 shares during the period. Chicago Equity Partners LLC acquired a new stake in Selective Insurance Group during the fourth quarter worth approximately $1,018,000. Finally, Rhumbline Advisers increased its stake in Selective Insurance Group by 2.7% in the fourth quarter. Rhumbline Advisers now owns 99,500 shares of the company’s stock worth $3,341,000 after buying an additional 2,585 shares during the period.
Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.
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