Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Michael J. Morrissey sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $74.99, for a total transaction of $224,970.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of SIGI traded up $0.58 during trading hours on Thursday, reaching $75.53. The stock had a trading volume of 218,082 shares, compared to its average volume of 228,217. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.22. Selective Insurance Group, Inc. has a 52 week low of $48.04 and a 52 week high of $78.99. The company’s 50-day moving average is $75.91. The company has a market cap of $4.53 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.52 and a beta of 0.83.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, April 28th. The insurance provider reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.73. Selective Insurance Group had a net margin of 11.12% and a return on equity of 12.46%. The business had revenue of $803.90 million during the quarter, compared to analysts’ expectations of $756.43 million. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. Equities analysts forecast that Selective Insurance Group, Inc. will post 5.35 earnings per share for the current year.
SIGI has been the subject of several recent research reports. JMP Securities upped their target price on shares of Selective Insurance Group from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, April 16th. Zacks Investment Research cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Monday, April 5th. Bank of America initiated coverage on shares of Selective Insurance Group in a research report on Friday, May 21st. They set a “neutral” rating and a $83.00 target price for the company. Finally, Royal Bank of Canada upped their target price on shares of Selective Insurance Group from $67.00 to $71.00 and gave the company a “sector perform” rating in a research report on Thursday, April 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $76.40.
A number of hedge funds and other institutional investors have recently made changes to their positions in SIGI. Norges Bank acquired a new position in Selective Insurance Group in the 4th quarter worth $47,020,000. BlackRock Inc. boosted its stake in Selective Insurance Group by 5.9% in the 1st quarter. BlackRock Inc. now owns 7,072,267 shares of the insurance provider’s stock worth $513,023,000 after purchasing an additional 394,010 shares during the period. Janus Henderson Group PLC boosted its stake in Selective Insurance Group by 15.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,320,508 shares of the insurance provider’s stock worth $88,448,000 after purchasing an additional 180,661 shares during the period. Alliancebernstein L.P. boosted its stake in Selective Insurance Group by 10.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,439,705 shares of the insurance provider’s stock worth $96,431,000 after purchasing an additional 137,198 shares during the period. Finally, GW&K Investment Management LLC boosted its stake in Selective Insurance Group by 1,420.0% in the 4th quarter. GW&K Investment Management LLC now owns 101,459 shares of the insurance provider’s stock worth $6,796,000 after purchasing an additional 94,784 shares during the period. 79.14% of the stock is owned by hedge funds and other institutional investors.
About Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real and/or personal property, or earnings; and 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 as a result of an insured's negligent acts, omissions, or legal liabilities, as well as flood insurance products.
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