LPL Financial LLC lessened its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,386 shares of the insurance provider’s stock after selling 1,011 shares during the quarter. LPL Financial LLC’s holdings in Selective Insurance Group were worth $4,553,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $1,237,000. Fiducient Advisors LLC acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $310,000. Simplex Trading LLC acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $169,000. ProShare Advisors LLC increased its holdings in shares of Selective Insurance Group by 14.9% in the fourth quarter. ProShare Advisors LLC now owns 15,999 shares of the insurance provider’s stock valued at $1,418,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Selective Insurance Group by 50.3% in the fourth quarter. Bank of Montreal Can now owns 9,157 shares of the insurance provider’s stock valued at $832,000 after purchasing an additional 3,065 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. BMO Capital Markets started coverage on Selective Insurance Group in a report on Thursday, January 19th. They issued a “market perform” rating and a $90.00 price target for the company. Piper Sandler cut their target price on Selective Insurance Group from $107.00 to $104.00 in a research note on Friday, May 5th. Royal Bank of Canada raised their target price on Selective Insurance Group from $90.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Monday, February 6th. StockNews.com started coverage on Selective Insurance Group in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods cut their target price on Selective Insurance Group from $107.00 to $104.00 and set a “market perform” rating for the company in a research note on Tuesday, April 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $99.17.
Selective Insurance Group Trading Down 0.1 %
Selective Insurance Group (NASDAQ:SIGI – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.44 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.13). The firm had revenue of $999.80 million for the quarter, compared to analysts’ expectations of $1 billion. Selective Insurance Group had a return on equity of 13.38% and a net margin of 6.97%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, equities analysts expect that Selective Insurance Group, Inc. will post 6.46 earnings per share for the current year.
Selective Insurance Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 29.06%.
Selective Insurance Group Profile
Selective Insurance Group, Inc is a New Jersey insurance holding company, which engages in the provision of 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.
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