Selective Insurance Group Inc. (SIGI) Trading Down 2.4%
Selective Insurance Group Inc. (NASDAQ:SIGI)’s share price fell 2.4% during mid-day trading on Friday . The company traded as low as $39.09 and last traded at $39.17, with a volume of 189,588 shares. The stock had previously closed at $40.12.
A number of brokerages recently issued reports on SIGI. Keefe, Bruyette & Woods began coverage on shares of Selective Insurance Group in a research report on Wednesday, May 4th. They set a “market perform” rating and a $38.50 target price on the stock. Zacks Investment Research lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th.
The stock’s 50 day moving average is $38.13 and its 200 day moving average is $35.36. The firm has a market cap of $2.26 billion and a PE ratio of 14.04.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. The business had revenue of $568.70 million for the quarter, compared to the consensus estimate of $569.77 million. During the same period in the prior year, the business earned $0.62 earnings per share. Selective Insurance Group’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Selective Insurance Group Inc. will post $2.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 1.53%.
In other Selective Insurance Group news, CEO Gregory E. Murphy sold 40,000 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $35.07, for a total transaction of $1,402,800.00. Following the completion of the sale, the chief executive officer now owns 361,807 shares of the company’s stock, valued at approximately $12,688,571.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul D. Bauer sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were 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 approximately $2,784,250. The disclosure for this sale can be found here.
A number of large investors have made changes to their positions in SIGI. State of Tennessee Treasury Department purchased a new position in Selective Insurance Group during the fourth quarter valued at $4,836,000. Bank of Montreal Can boosted its position in 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 last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Selective Insurance Group during the fourth quarter valued at $1,752,000. Bailard Inc. purchased a new position in Selective Insurance Group during the fourth quarter valued at $1,625,000. Finally, Dimensional Fund Advisors LP boosted its position in Selective Insurance Group by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,860,057 shares of the company’s stock valued at $163,202,000 after buying an additional 31,441 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.
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