Selective Insurance Group (NASDAQ:SIGI) EVP Michael Lanza Sells 17,100 Shares of Stock

Selective Insurance Group, Inc. (NASDAQ:SIGI) EVP Michael Lanza sold 17,100 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total value of $1,608,084.00. Following the transaction, the executive vice president owned 16,565 shares in the company, valued at $1,557,772.60. This represents a 50.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Selective Insurance Group Stock Up 2.4%

Selective Insurance Group stock opened at $96.68 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market capitalization of $5.76 billion, a PE ratio of 12.00 and a beta of 0.29. The business has a 50 day simple moving average of $93.44 and a 200-day simple moving average of $86.09. Selective Insurance Group, Inc. has a 12 month low of $72.78 and a 12 month high of $100.40.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.66 by $0.29. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. On average, analysts anticipate that Selective Insurance Group, Inc. will post 7.98 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.8%. Selective Insurance Group’s dividend payout ratio is presently 21.34%.

Wall Street Analysts Forecast Growth

SIGI has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Selective Insurance Group from $88.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Morgan Stanley lifted their price target on shares of Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Weiss Ratings upgraded Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Piper Sandler boosted their price target on shares of Selective Insurance Group from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Oppenheimer boosted their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and an average target price of $100.17.

Hedge Funds Weigh In On Selective Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi increased its holdings in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Selective Insurance Group by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,627 shares of the insurance provider’s stock worth $19,555,000 after acquiring an additional 11,167 shares during the period. Focus Partners Wealth boosted its holdings in shares of Selective Insurance Group by 17.9% in the first quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider’s stock valued at $248,000 after acquiring an additional 411 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Selective Insurance Group during the second quarter worth about $468,000. Finally, Cetera Investment Advisers increased its stake in shares of Selective Insurance Group by 14.1% during the second quarter. Cetera Investment Advisers now owns 3,749 shares of the insurance provider’s stock worth $325,000 after acquiring an additional 462 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.