Anthony D. Harnett Sells 1,404 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) CAO Anthony D. Harnett sold 1,404 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $91.37 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a 52-week low of $81.00 and a 52-week high of $109.58. The company has a 50-day simple moving average of $91.85 and a 200-day simple moving average of $93.52. The company has a market capitalization of $5.55 billion, a PE ratio of 16.14, a P/E/G ratio of 1.57 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $1.51 earnings per share. Equities research analysts predict that Selective Insurance Group, Inc. will post 3.76 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, November 15th. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 1.66%. Selective Insurance Group’s payout ratio is currently 26.86%.

Institutional Trading of Selective Insurance Group

A number of institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group during the 3rd quarter worth $27,000. Quest Partners LLC acquired a new position in Selective Insurance Group during the second quarter worth about $28,000. GAMMA Investing LLC lifted its holdings in shares of Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Selective Insurance Group in the second quarter valued at approximately $44,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Selective Insurance Group during the 1st quarter worth approximately $48,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SIGI has been the topic of several analyst reports. Keefe, Bruyette & Woods upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. BMO Capital Markets lifted their price objective on shares of Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Bank of America upped their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and an average target price of $100.00.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers 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; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.