Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Gregory E. Murphy Sells 32,388 Shares

Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Gregory E. Murphy sold 32,388 shares of the firm’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $75.59, for a total transaction of $2,448,208.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of SIGI stock traded up $1.04 during midday trading on Monday, hitting $77.18. 6,228 shares of the company were exchanged, compared to its average volume of 234,629. The firm has a market capitalization of $4.63 billion, a P/E ratio of 22.80 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. Selective Insurance Group, Inc. has a 52 week low of $42.14 and a 52 week high of $78.99. The firm’s 50 day moving average price is $75.22 and its two-hundred day moving average price is $66.87.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, April 28th. The insurance provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.73. The firm had revenue of $803.90 million during the quarter, compared to the consensus estimate of $756.43 million. Selective Insurance Group had a return on equity of 9.84% and a net margin of 7.05%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. Analysts expect that Selective Insurance Group, Inc. will post 3.45 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, May 13th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.73%.

Several institutional investors and hedge funds have recently bought and sold shares of SIGI. Crossmark Global Holdings Inc. boosted its holdings in Selective Insurance Group by 3.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 4,840 shares of the insurance provider’s stock worth $351,000 after acquiring an additional 160 shares during the last quarter. Salem Investment Counselors Inc. increased its position in Selective Insurance Group by 416.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 372 shares of the insurance provider’s stock worth $25,000 after buying an additional 300 shares during the last quarter. Inspire Advisors LLC bought a new stake in Selective Insurance Group in the 4th quarter valued at about $26,000. State of Michigan Retirement System lifted its stake in shares of Selective Insurance Group by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 22,219 shares of the insurance provider’s stock valued at $1,612,000 after buying an additional 400 shares in the last quarter. Finally, Allstate Corp boosted its holdings in shares of Selective Insurance Group by 5.2% in the fourth quarter. Allstate Corp now owns 8,454 shares of the insurance provider’s stock worth $566,000 after acquiring an additional 417 shares during the period. Institutional investors own 79.63% of the company’s stock.

Several brokerages have recently weighed in on SIGI. Zacks Investment Research lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a research report on Monday, April 5th. JMP Securities lifted their price target on Selective Insurance Group from $72.00 to $80.00 and gave the company a “market outperform” rating in a report on Thursday, April 22nd. Royal Bank of Canada boosted their target price on Selective Insurance Group from $67.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 8th. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of Selective Insurance Group in a research report on Tuesday, January 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Selective Insurance Group has a consensus rating of “Hold” and a consensus target price of $74.75.

Selective Insurance Group Company Profile

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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