Insider Selling: Selective Insurance Group Inc. (SIGI) CEO Sells 8,333 Shares of Stock
Selective Insurance Group Inc. (NASDAQ:SIGI) CEO Gregory E. Murphy sold 8,333 shares of the firm’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $40.39, for a total value of $336,569.87. Following the completion of the transaction, the chief executive officer now owns 235,699 shares of the company’s stock, valued at approximately $9,519,882.61. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Gregory E. Murphy also recently made the following trade(s):
- On Thursday, September 15th, Gregory E. Murphy sold 8,333 shares of Selective Insurance Group stock. The stock was sold at an average price of $39.50, for a total value of $329,153.50.
Selective Insurance Group Inc. (NASDAQ:SIGI) traded down 0.74% during mid-day trading on Tuesday, hitting $40.15. The company’s stock had a trading volume of 223,968 shares. The stock has a market cap of $2.32 billion, a P/E ratio of 13.57 and a beta of 1.33. The company’s 50 day moving average is $39.85 and its 200-day moving average is $37.82. Selective Insurance Group Inc. has a 52-week low of $29.27 and a 52-week high of $41.30.
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Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.13. Selective Insurance Group had a return on equity of 12.11% and a net margin of 7.84%. The firm earned $568.70 million during the quarter, compared to analysts’ expectations of $569.77 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that Selective Insurance Group Inc. will post $2.75 EPS for the current fiscal year.
Several research analysts have commented on the company. Zacks Investment Research upgraded Selective Insurance Group from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Saturday. Keefe, Bruyette & Woods set a $41.00 price target on Selective Insurance Group and gave the company a “hold” rating in a report on Monday, August 1st.
A number of hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new stake in Selective Insurance Group during the second quarter worth approximately $107,000. Victory Capital Management Inc. boosted its stake in Selective Insurance Group by 77.4% in the second quarter. Victory Capital Management Inc. now owns 3,097 shares of the company’s stock worth $118,000 after buying an additional 1,351 shares during the period. BlackRock Inc. boosted its stake in Selective Insurance Group by 112.7% in the first quarter. BlackRock Inc. now owns 3,815 shares of the company’s stock worth $140,000 after buying an additional 2,021 shares during the period. Societe Generale purchased a new stake in Selective Insurance Group during the second quarter worth approximately $180,000. Finally, SG Americas Securities LLC purchased a new stake in Selective Insurance Group during the second quarter worth approximately $180,000. Institutional investors own 76.71% of the company’s stock.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.
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