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

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) CAO Anthony D. Harnett sold 1,404 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares in the company, valued at $1,476,759.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Selective Insurance Group Trading Down 2.4 %

Shares of SIGI stock traded down $2.20 during trading hours on Friday, reaching $91.37. The company had a trading volume of 202,871 shares, compared to its average volume of 352,281. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.57 and a beta of 0.56. Selective Insurance Group, Inc. has a 1-year low of $81.00 and a 1-year high of $109.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.32. The company has a 50 day moving average of $91.80 and a 200 day moving average of $93.69.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 3.76 EPS for the current year.

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, November 15th. This is an increase from Selective Insurance Group's previous quarterly dividend of $0.35. Selective Insurance Group's dividend payout ratio (DPR) is presently 26.86%.

Analyst Upgrades and Downgrades

SIGI has been the topic of a number of recent research reports. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Bank of America increased their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a research report on Tuesday. BMO Capital Markets increased their price target on Selective Insurance Group from $92.00 to $95.00 and gave the company a "market perform" rating in a research note on Wednesday, July 24th. Royal Bank of Canada increased their price target on Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a research note on Wednesday. Finally, Piper Sandler cut their price target on Selective Insurance Group from $104.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $100.00.

Institutional Trading of Selective Insurance Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Selective Insurance Group by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Selective Insurance Group by 2.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider's stock valued at $705,000 after purchasing an additional 205 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Selective Insurance Group by 5.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider's stock valued at $446,000 after purchasing an additional 216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Selective Insurance Group by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider's stock valued at $1,262,000 after acquiring an additional 266 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Selective Insurance Group by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider's stock valued at $1,415,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

About Selective Insurance Group

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.

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