Great West Life Assurance Co. Can Acquires 3,302 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Great West Life Assurance Co. Can grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 8.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,306 shares of the insurance provider’s stock after buying an additional 3,302 shares during the quarter. Great West Life Assurance Co. Can owned 0.07% of Selective Insurance Group worth $3,280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Martingale Asset Management L P grew its stake in Selective Insurance Group by 0.5% in the second quarter. Martingale Asset Management L P now owns 28,035 shares of the insurance provider’s stock worth $2,438,000 after purchasing an additional 130 shares in the last quarter. Mackenzie Financial Corp grew its stake in Selective Insurance Group by 4.6% in the first quarter. Mackenzie Financial Corp now owns 3,359 shares of the insurance provider’s stock worth $300,000 after purchasing an additional 147 shares in the last quarter. Creative Planning grew its stake in Selective Insurance Group by 0.6% in the second quarter. Creative Planning now owns 25,118 shares of the insurance provider’s stock worth $2,184,000 after purchasing an additional 153 shares in the last quarter. Van ECK Associates Corp grew its stake in Selective Insurance Group by 9.9% in the third quarter. Van ECK Associates Corp now owns 1,755 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 158 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Selective Insurance Group by 19.3% in the second quarter. Fifth Third Bancorp now owns 1,025 shares of the insurance provider’s stock worth $89,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 83.85% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $92.65 on Wednesday. Selective Insurance Group, Inc. has a 12 month low of $66.81 and a 12 month high of $98.80. The stock has a fifty day moving average price of $91.55 and a 200-day moving average price of $86.92. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The firm has a market cap of $5.58 billion, a PE ratio of 24.71, a P/E/G ratio of 2.11 and a beta of 0.62.

Selective Insurance Group (NASDAQ:SIGI – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.17). Selective Insurance Group had a net margin of 6.76% and a return on equity of 12.79%. The business had revenue of $920.70 million for the quarter, compared to analysts’ expectations of $908.21 million. Equities research analysts predict that Selective Insurance Group, Inc. will post 4.97 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, November 14th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.28. Selective Insurance Group’s dividend payout ratio is currently 32.00%.

Insider Activity

In other news, Director John Burville sold 2,652 shares of the stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $95.52, for a total transaction of $253,319.04. Following the completion of the sale, the director now owns 83,649 shares in the company, valued at approximately $7,990,152.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director John Burville sold 2,652 shares of the company’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $95.52, for a total value of $253,319.04. Following the transaction, the director now directly owns 83,649 shares of the company’s stock, valued at approximately $7,990,152.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Brian Thebault sold 3,269 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $93.28, for a total value of $304,932.32. Following the completion of the transaction, the director now directly owns 51,500 shares in the company, valued at $4,803,920. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,734 shares of company stock worth $825,796. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. StockNews.com assumed coverage on Selective Insurance Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. BMO Capital Markets initiated coverage on Selective Insurance Group in a report on Thursday, January 19th. They set a “market perform” rating and a $90.00 target price for the company. Morgan Stanley upped their target price on Selective Insurance Group from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, November 22nd. Janney Montgomery Scott initiated coverage on Selective Insurance Group in a report on Friday, November 11th. They set a “neutral” rating and a $96.00 target price for the company. Finally, Piper Sandler upped their target price on Selective Insurance Group from $88.00 to $91.00 in a report on Tuesday, January 10th.

Selective Insurance Group Company Profile

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Selective Insurance Group, Inc provides property and casualty insurance products. It operates through the following segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The Standard Commercial Lines segment offers insurance products and services to commercial customers, such as non-profit organizations and local government agencies.