Selective Insurance Group (NASDAQ:SIGI) EVP Michael H. Lanza sold 8,204 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $43.10, for a total value of $353,592.40. Following the transaction, the executive vice president now owns 34,619 shares in the company, valued at $1,492,078.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Selective Insurance Group (NASDAQ:SIGI) traded down 1.49% during midday trading on Wednesday, hitting $43.05. 217,787 shares of the company were exchanged. The firm has a market cap of $2.50 billion, a P/E ratio of 15.94 and a beta of 1.29. The company’s 50 day moving average price is $42.67 and its 200 day moving average price is $40.44. Selective Insurance Group has a one year low of $31.35 and a one year high of $44.35.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.13. The company had revenue of $582.40 million for the quarter, compared to the consensus estimate of $500.43 million. Selective Insurance Group had a return on equity of 10.55% and a net margin of 6.94%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. Equities analysts expect that Selective Insurance Group will post $2.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, February 13th. Selective Insurance Group’s dividend payout ratio is currently 23.70%.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, December 28th. Royal Bank Of Canada cut Selective Insurance Group from an “outperform” rating to a “sector perform” rating and set a $41.00 target price on the stock. in a research note on Friday, December 9th. Sandler O’Neill initiated coverage on Selective Insurance Group in a research note on Monday, January 23rd. They issued a “hold” rating and a $44.00 target price on the stock. Finally, RBC Capital Markets cut Selective Insurance Group from an “outperform” rating to a “sector perform” rating and set a $41.00 target price on the stock. in a research note on Thursday, December 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $43.20.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank increased its position in shares of Selective Insurance Group by 5.6% in the fourth quarter. Comerica Bank now owns 61,519 shares of the company’s stock valued at $2,587,000 after buying an additional 3,283 shares in the last quarter. National Planning Corp boosted its stake in Selective Insurance Group by 0.9% in the fourth quarter. National Planning Corp now owns 46,808 shares of the company’s stock worth $1,957,000 after buying an additional 413 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Selective Insurance Group during the fourth quarter worth about $10,325,000. Phocas Financial Corp. boosted its stake in Selective Insurance Group by 6.6% in the third quarter. Phocas Financial Corp. now owns 134,609 shares of the company’s stock worth $5,366,000 after buying an additional 8,313 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its stake in Selective Insurance Group by 7.4% in the third quarter. Tributary Capital Management LLC now owns 355,896 shares of the company’s stock worth $14,186,000 after buying an additional 24,434 shares in the last quarter. 77.85% of the stock is currently owned by institutional investors.
About Selective Insurance Group
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.