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.
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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