Selective Insurance Group Inc. (SIGI) Sets New 1-Year High at $39.22
Selective Insurance Group Inc. (NASDAQ:SIGI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $39.22 and last traded at $39.16, with a volume of 80,874 shares traded. The stock had previously closed at $38.35.
A number of equities analysts have commented on SIGI shares. Zacks Investment Research downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, April 7th. Keefe, Bruyette & Woods started coverage on shares of Selective Insurance Group in a report on Wednesday, May 4th. They issued a “market perform” rating and a $38.50 price objective for the company.
The company has a market cap of $2.27 billion and a P/E ratio of 14.11. The stock’s 50 day moving average price is $37.40 and its 200-day moving average price is $34.82.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.08. The firm had revenue of $551.50 million for the quarter, compared to analyst estimates of $553.99 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, equities analysts anticipate that Selective Insurance Group Inc. will post $2.68 EPS for the current fiscal year.
In other news, CFO Dale A. Thatcher sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $37.04, for a total transaction of $370,400.00. Following the transaction, the chief financial officer now owns 115,487 shares of the company’s stock, valued at $4,277,638.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory E. Murphy sold 40,000 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $35.07, for a total value of $1,402,800.00. Following the transaction, the chief executive officer now directly owns 361,807 shares in the company, valued at approximately $12,688,571.49. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of SIGI. Bank of Montreal Can raised its position in shares of Selective Insurance Group by 1,567.2% in the fourth quarter. Bank of Montreal Can now owns 137,926 shares of the company’s stock valued at $4,630,000 after buying an additional 129,653 shares during the period. Morgan Stanley raised its position in Selective Insurance Group by 13.2% in the fourth quarter. Morgan Stanley now owns 255,307 shares of the company’s stock valued at $8,573,000 after buying an additional 29,790 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Selective Insurance Group by 9.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 110,255 shares of the company’s stock valued at $3,702,000 after buying an additional 9,383 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Selective Insurance Group during the fourth quarter valued at $1,752,000. Finally, Cornercap Investment Counsel Inc. raised its position in Selective Insurance Group by 1.2% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 44,985 shares of the company’s stock valued at $1,511,000 after buying an additional 540 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.