Key Points
- Director Cynthia Nicholson sold 3,691 SIGI shares for approximately $364,339, reducing her direct ownership by 17.45% to 17,463 shares.
- Selective Insurance reported stronger-than-expected quarterly results, with EPS of $2.37 versus the $1.91 consensus and revenue of $1.33 billion versus $1.17 billion expected.
- The company raised its quarterly dividend from $0.43 to $0.48 per share, implying an annualized dividend of $1.92 and a 1.9% yield; analysts remain mixed, with a consensus “Hold” rating and a $101 price target.
Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) Director Cynthia Nicholson sold 3,691 shares of Selective Insurance Group stock in a transaction on Monday, October 26th. The shares were sold at an average price of $98.71, for a total value of $364,338.61. Following the sale, the director directly owned 17,463 shares of the company's stock, valued at approximately $1,723,772.73. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Selective Insurance Group Price Performance
SIGI opened at $98.79 on Tuesday. Selective Insurance Group, Inc. has a 12-month low of $72.78 and a 12-month high of $101.25. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.28. The business's fifty day simple moving average is $89.01 and its 200-day simple moving average is $87.29. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 11.87 and a beta of 0.26.
Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The insurance provider reported $2.37 EPS for the quarter, beating the consensus estimate of $1.91 by $0.46. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a return on equity of 15.60% and a net margin of 9.40%. During the same quarter last year, the firm posted $1.85 earnings per share. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 8.20 earnings per share for the current fiscal year.
Selective Insurance Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, November 16th. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.43. Selective Insurance Group's dividend payout ratio (DPR) is currently 20.67%.
Hedge Funds Weigh In On Selective Insurance Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oak Associates Ltd. OH boosted its stake in Selective Insurance Group by 1.8% in the first quarter. Oak Associates Ltd. OH now owns 7,124 shares of the insurance provider's stock valued at $537,000 after acquiring an additional 125 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Selective Insurance Group by 0.5% during the first quarter. Royal Bank of Canada now owns 35,809 shares of the insurance provider's stock worth $2,699,000 after purchasing an additional 192 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Selective Insurance Group by 1.4% during the first quarter. State of Michigan Retirement System now owns 14,481 shares of the insurance provider's stock worth $1,092,000 after purchasing an additional 200 shares in the last quarter. IFP Advisors Inc increased its position in shares of Selective Insurance Group by 51.3% during the third quarter. IFP Advisors Inc now owns 596 shares of the insurance provider's stock worth $50,000 after purchasing an additional 202 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in shares of Selective Insurance Group by 7.5% in the 2nd quarter. Baron Wealth Management LLC now owns 3,722 shares of the insurance provider's stock valued at $361,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.
Key Headlines Impacting Selective Insurance Group
Here are the key news stories impacting Selective Insurance Group this week:
- Positive Sentiment: Quarterly earnings beat expectations: Selective reported $2.37 in earnings per share versus the $1.91 consensus estimate, while revenue reached $1.33 billion, ahead of the $1.17 billion forecast. The results helped drive the stock to a new 52-week high. Selective Insurance Group Sets New 1-Year High on Better-Than-Expected Earnings
- Positive Sentiment: Underwriting and investment income remain supportive: Standard commercial renewal pricing increased 5.7% year over year in the third quarter, while after-tax net investment income rose 16%. These trends, along with underwriting discipline and investment gains, helped offset softer top-line growth. Selective Insurance: 3 Key Takeaways for Long-Term Investors
- Neutral Sentiment: Limited analyst upside: The reported consensus price target is $101, only modestly above the stock’s recent trading level, suggesting that much of the earnings optimism may already be reflected in the valuation. Selective Insurance Group Has Consensus Target Price of $101.00
- Neutral Sentiment: Short-interest data is unclear: One report describes a large increase in short interest but simultaneously lists total short interest at zero shares and a 0.0-day short-interest ratio, making the figure unlikely to represent meaningful bearish positioning.
- Negative Sentiment: Director selling could weigh on sentiment: Director Cynthia Nicholson sold 3,691 shares for approximately $364,339, reducing her position by 17.45%. The sale is not necessarily evidence of deteriorating fundamentals, but it may temper investor confidence after the recent rally. Selective Insurance Group Insider Sale SEC Filing
- Negative Sentiment: Morgan Stanley issued a Sell rating, adding an important bearish counterpoint to the earnings-driven optimism. Selective Insurance Group Receives a Sell from Morgan Stanley
Analyst Upgrades and Downgrades
SIGI has been the subject of several research reports. Piper Sandler lowered their price target on shares of Selective Insurance Group from $105.00 to $97.00 and set a "neutral" rating for the company in a research report on Monday, September 28th. Keefe, Bruyette & Woods increased their price objective on shares of Selective Insurance Group from $101.00 to $102.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Oppenheimer reissued an "outperform" rating and set a $115.00 price objective on shares of Selective Insurance Group in a report on Tuesday, October 13th. BMO Capital Markets reissued a "market perform" rating on shares of Selective Insurance Group in a research note on Wednesday, October 21st. Finally, Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $101.00.
View Our Latest Stock Report on Selective Insurance Group
About Selective Insurance Group
(
Get Free Report)
Selective Insurance Group, Inc is a holding company for a group of property and casualty insurance subsidiaries. Founded in 1926 and headquartered in Branchville, New Jersey, the company provides insurance products and related services primarily through a network of independent agents.
Selective serves commercial, personal and public-sector customers. Its commercial offerings include business owners policies, commercial automobile, workers' compensation, general liability, commercial property and other specialty coverages.
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