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

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

Selective Insurance Group Stock Up 2.4%

Selective Insurance Group stock traded up $2.28 during trading on Wednesday, reaching $96.68. 833,620 shares of the company’s stock were exchanged, compared to its average volume of 581,417. Selective Insurance Group, Inc. has a 52-week low of $72.78 and a 52-week high of $100.40. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 12.00 and a beta of 0.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.30 and a current ratio of 0.29. The company’s 50-day moving average is $93.30 and its two-hundred day moving average is $86.01.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.29. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, analysts predict that Selective Insurance Group, Inc. will post 7.95 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

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

Institutional Trading of Selective Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of SIGI. SG Americas Securities LLC lifted its stake in Selective Insurance Group by 381.2% during the fourth quarter. SG Americas Securities LLC now owns 28,347 shares of the insurance provider’s stock worth $2,372,000 after purchasing an additional 22,456 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Selective Insurance Group during the 2nd quarter valued at about $468,000. Comerica Bank grew its position in shares of Selective Insurance Group by 94.8% during the 4th quarter. Comerica Bank now owns 55,955 shares of the insurance provider’s stock valued at $4,682,000 after buying an additional 27,236 shares during the last quarter. Intech Investment Management LLC raised its stake in Selective Insurance Group by 138.0% during the fourth quarter. Intech Investment Management LLC now owns 62,686 shares of the insurance provider’s stock worth $5,245,000 after acquiring an additional 36,351 shares during the period. Finally, UBS Group AG lifted its holdings in Selective Insurance Group by 46.1% in the fourth quarter. UBS Group AG now owns 237,076 shares of the insurance provider’s stock worth $19,836,000 after acquiring an additional 74,757 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SIGI. Morgan Stanley boosted their target price on shares of Selective Insurance Group from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Royal Bank Of Canada lifted their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings upgraded shares of Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Piper Sandler upped their price objective on shares of Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Oppenheimer raised their target price on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average target price of $100.17.

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.