Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. increased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,039 shares of the insurance provider’s stock after buying an additional 256 shares during the quarter. AGF Management Ltd.’s holdings in Selective Insurance Group were worth $3,362,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in shares of Selective Insurance Group in the second quarter valued at about $1,017,000. Creative Planning grew its stake in shares of Selective Insurance Group by 8.5% in the second quarter. Creative Planning now owns 26,798 shares of the insurance provider’s stock valued at $2,571,000 after buying an additional 2,098 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Selective Insurance Group in the first quarter valued at about $271,000. Great Lakes Advisors LLC acquired a new stake in shares of Selective Insurance Group in the first quarter valued at about $11,048,000. Finally, Wellington Management Group LLP grew its stake in shares of Selective Insurance Group by 2.7% in the first quarter. Wellington Management Group LLP now owns 398,473 shares of the insurance provider’s stock valued at $37,986,000 after buying an additional 10,462 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Selective Insurance Group Trading Up 1.4 %

NASDAQ:SIGI opened at $101.88 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $103.37 and its two-hundred day moving average is $100.87. Selective Insurance Group, Inc. has a 52 week low of $84.47 and a 52 week high of $108.18. The company has a market cap of $6.17 billion, a PE ratio of 19.59, a P/E/G ratio of 0.72 and a beta of 0.61.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, November 1st. The insurance provider reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.15). Selective Insurance Group had a return on equity of 13.86% and a net margin of 7.97%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $0.99 EPS. On average, analysts predict that Selective Insurance Group, Inc. will post 5.9 EPS for the current year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, November 14th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.30. Selective Insurance Group’s dividend payout ratio (DPR) is currently 26.92%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SIGI. Royal Bank of Canada increased their target price on Selective Insurance Group from $105.00 to $108.00 and gave the company a “sector perform” rating in a research note on Friday, November 3rd. StockNews.com began coverage on Selective Insurance Group in a research note on Thursday, October 5th. They set a “hold” rating for the company. Oppenheimer began coverage on Selective Insurance Group in a research note on Thursday. They set an “outperform” rating and a $120.00 price objective for the company. Piper Sandler lowered their price objective on Selective Insurance Group from $112.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, October 6th. Finally, Bank of America raised their price objective on Selective Insurance Group from $93.00 to $100.00 and gave the company an “underperform” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $105.14.

Insiders Place Their Bets

In related news, CEO John J. Marchioni sold 20,906 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $102.01, for a total value of $2,132,621.06. Following the sale, the chief executive officer now owns 120,554 shares of the company’s stock, valued at approximately $12,297,713.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO John J. Marchioni sold 2,976 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 141,460 shares of the company’s stock, valued at approximately $14,137,512.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John J. Marchioni sold 20,906 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $102.01, for a total value of $2,132,621.06. Following the completion of the sale, the chief executive officer now directly owns 120,554 shares in the company, valued at approximately $12,297,713.54. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company 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.