Selective Insurance Group (SIGI) Reaches New 1-Year High at $64.20

Share on StockTwits

Selective Insurance Group (NASDAQ:SIGI) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $64.20 and last traded at $64.15, with a volume of 879 shares changing hands. The stock had previously closed at $63.70.

A number of research analysts recently issued reports on the company. BidaskClub raised Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Credit Suisse Group assumed coverage on Selective Insurance Group in a report on Tuesday, August 7th. They issued an “underperform” rating and a $54.00 price target for the company. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a report on Thursday, August 2nd. Finally, Zacks Investment Research raised Selective Insurance Group from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.40.

The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.74 billion, a PE ratio of 20.55, a PEG ratio of 1.11 and a beta of 1.28.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.13. The firm had revenue of $651.90 million during the quarter, compared to analyst estimates of $650.57 million. Selective Insurance Group had a return on equity of 10.69% and a net margin of 6.10%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. equities analysts predict that Selective Insurance Group will post 3.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Wednesday, August 15th will be given a $0.18 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.13%. Selective Insurance Group’s payout ratio is 23.15%.

In other news, Director Terrence W. Cavanaugh acquired 1,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was purchased at an average cost of $61.47 per share, for a total transaction of $61,470.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Morrissey sold 1,575 shares of Selective Insurance Group stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $63.72, for a total value of $100,359.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,498 shares of company stock valued at $2,924,924. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Neuburgh Advisers LLC grew its position in shares of Selective Insurance Group by 10.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 9,418 shares of the insurance provider’s stock worth $518,000 after buying an additional 884 shares during the period. Metropolitan Life Insurance Co. NY grew its position in shares of Selective Insurance Group by 5.8% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 18,651 shares of the insurance provider’s stock worth $1,026,000 after buying an additional 1,029 shares during the period. Mason Street Advisors LLC grew its position in shares of Selective Insurance Group by 7.3% during the 1st quarter. Mason Street Advisors LLC now owns 16,289 shares of the insurance provider’s stock worth $989,000 after buying an additional 1,102 shares during the period. Piedmont Investment Advisors LLC grew its position in shares of Selective Insurance Group by 9.0% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 13,678 shares of the insurance provider’s stock worth $752,000 after buying an additional 1,128 shares during the period. Finally, First National Bank of Omaha grew its position in shares of Selective Insurance Group by 2.7% during the 1st quarter. First National Bank of Omaha now owns 45,863 shares of the insurance provider’s stock worth $2,784,000 after buying an additional 1,195 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

About Selective Insurance Group (NASDAQ:SIGI)

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance 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.

Further Reading: Average Daily Trade Volume – ADTV

Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply