Selective Insurance Group, Inc. (NASDAQ:SIGI) CEO John J. Marchioni Purchases 2,400 Shares

Selective Insurance Group, Inc. (NASDAQ:SIGI) CEO John J. Marchioni purchased 2,400 shares of Selective Insurance Group stock in a transaction on Monday, July 22nd. The shares were acquired at an average cost of $83.56 per share, with a total value of $200,544.00. Following the completion of the transaction, the chief executive officer now directly owns 136,397 shares in the company, valued at approximately $11,397,333.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Selective Insurance Group Price Performance

SIGI traded up $1.47 during trading on Monday, reaching $83.55. The company’s stock had a trading volume of 1,054,389 shares, compared to its average volume of 331,083. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.75 and a beta of 0.54. The firm has a fifty day simple moving average of $94.39 and a two-hundred day simple moving average of $99.78. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Selective Insurance Group had a return on equity of 8.80% and a net margin of 5.12%. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, analysts anticipate that Selective Insurance Group, Inc. will post 6.75 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.68%. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

Institutional Trading of Selective Insurance Group

Several hedge funds have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in Selective Insurance Group during the 1st quarter worth about $27,000. Blue Trust Inc. boosted its stake in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares during the period. GAMMA Investing LLC grew its position in shares of Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Selective Insurance Group during the first quarter worth approximately $48,000. Finally, Burkett Financial Services LLC acquired a new stake in Selective Insurance Group in the fourth quarter valued at approximately $75,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SIGI shares. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Royal Bank of Canada reduced their price objective on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday. Piper Sandler lowered their target price on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday. Bank of America decreased their price target on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research note on Thursday, July 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.40.

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.