Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Terrence W. Cavanaugh Buys 2,000 Shares

Selective Insurance Group, Inc. (NASDAQ:SIGI) Director Terrence W. Cavanaugh bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $85.85 per share, for a total transaction of $171,700.00. Following the transaction, the director now owns 20,651 shares in the company, valued at $1,772,888.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $88.85 on Friday. 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 0.18, a current ratio of 0.30 and a quick ratio of 0.30. The company’s 50-day moving average is $93.74 and its 200 day moving average is $99.46. The stock has a market capitalization of $5.40 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.09 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($2.59). Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.80%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, sell-side analysts expect that Selective Insurance Group, Inc. will post 5.01 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, August 15th. Selective Insurance Group’s dividend payout ratio is currently 24.74%.

Hedge Funds Weigh In On Selective Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new position in shares of Selective Insurance Group during the first quarter valued at about $27,000. Blue Trust Inc. boosted its stake in Selective Insurance Group by 68.9% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 145 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Selective Insurance Group during the first quarter worth about $48,000. Finally, Burkett Financial Services LLC bought a new stake in Selective Insurance Group during the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler decreased their target price on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating and issued a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $104.00 to $99.00 in a research report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average price target of $98.67.

Selective Insurance Group Company Profile

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.