Narus Financial Partners LLC Makes New $304,000 Investment in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Narus Financial Partners LLC acquired a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,188 shares of the insurance provider’s stock, valued at approximately $304,000.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its position in Selective Insurance Group by 0.3% in the 1st quarter. BlackRock Inc. now owns 7,113,349 shares of the insurance provider’s stock worth $678,116,000 after purchasing an additional 18,555 shares in the last quarter. Vanguard Group Inc. boosted its position in Selective Insurance Group by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,888,257 shares of the insurance provider’s stock worth $479,304,000 after purchasing an additional 77,012 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Selective Insurance Group by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 2,752,581 shares of the insurance provider’s stock valued at $239,309,000 after buying an additional 84,594 shares in the last quarter. FMR LLC lifted its position in shares of Selective Insurance Group by 3.0% during the 1st quarter. FMR LLC now owns 2,599,057 shares of the insurance provider’s stock valued at $247,768,000 after buying an additional 76,159 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Selective Insurance Group by 1.7% during the 1st quarter. State Street Corp now owns 2,138,623 shares of the insurance provider’s stock valued at $203,875,000 after buying an additional 36,024 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Selective Insurance Group Trading Up 0.0 %

Shares of SIGI stock opened at $100.75 on Thursday. The stock’s fifty day moving average is $99.74 and its two-hundred day moving average is $98.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $6.10 billion, a P/E ratio of 22.69, a PEG ratio of 0.75 and a beta of 0.61. Selective Insurance Group, Inc. has a fifty-two week low of $78.89 and a fifty-two week high of $105.54.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.99. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Selective Insurance Group had a return on equity of 12.83% and a net margin of 7.15%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. Research analysts expect that Selective Insurance Group, Inc. will post 6.1 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, August 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 27.03%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Selective Insurance Group from $90.00 to $93.00 in a research report on Wednesday, June 14th. Piper Sandler increased their target price on Selective Insurance Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, July 25th. Bank of America increased their target price on Selective Insurance Group from $93.00 to $100.00 and gave the company an “underperform” rating in a research report on Tuesday, July 25th. StockNews.com assumed coverage on Selective Insurance Group in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada increased their target price on Selective Insurance Group from $100.00 to $105.00 and gave the company a “sector perform” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $101.86.

Insiders Place Their Bets

In other Selective Insurance Group news, Director Cynthia S. Nicholson sold 980 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $101.86, for a total value of $99,822.80. Following the completion of the sale, the director now directly owns 19,766 shares of the company’s stock, valued at approximately $2,013,364.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Selective Insurance Group news, Director Cynthia S. Nicholson sold 980 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $101.86, for a total value of $99,822.80. Following the completion of the sale, the director now directly owns 19,766 shares of the company’s stock, valued at approximately $2,013,364.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John J. Marchioni sold 2,976 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $99.94, for a total value of $297,421.44. Following the completion of the sale, the chief executive officer now directly owns 141,460 shares of the company’s stock, valued at $14,137,512.40. The disclosure for this sale can be found here. Insiders sold 6,976 shares of company stock valued at $703,804 in the last three months. 1.50% of the stock is currently owned by insiders.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; casualty insurance products that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party; and flood insurance products.