Imprint Wealth LLC Buys Shares of 115,140 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Imprint Wealth LLC purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 115,140 shares of the insurance provider’s stock, valued at approximately $11,514,000.

Other large investors have also modified their holdings of the company. Spire Wealth Management grew its holdings in shares of Selective Insurance Group by 576.9% during the first quarter. Spire Wealth Management now owns 704 shares of the insurance provider’s stock worth $67,000 after buying an additional 600 shares in the last quarter. Covestor Ltd raised its holdings in Selective Insurance Group by 37.3% in the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 203 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Selective Insurance Group during the 1st quarter worth $114,000. Dundas Partners LLP acquired a new stake in shares of Selective Insurance Group during the second quarter worth $201,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Selective Insurance Group during the first quarter worth $201,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Down 0.3 %

Shares of NASDAQ SIGI traded down $0.35 during trading on Monday, reaching $101.45. 73,499 shares of the stock were exchanged, compared to its average volume of 265,869. The business’s 50-day moving average price is $103.45 and its 200 day moving average price is $100.92. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 0.72 and a beta of 0.61. Selective Insurance Group, Inc. has a twelve month low of $84.47 and a twelve month high of $108.18. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.15). Selective Insurance Group had a net margin of 7.97% and a return on equity of 13.86%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.99 earnings per share. As a group, equities analysts forecast that Selective Insurance Group, Inc. will post 5.9 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, November 14th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 1.38%. Selective Insurance Group’s payout ratio is currently 26.92%.

Insider Activity

In other news, CEO John J. Marchioni sold 20,906 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were 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 owns 120,554 shares of the company’s stock, valued at approximately $12,297,713.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John J. Marchioni sold 20,906 shares of the company’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 transaction of $2,132,621.06. Following the sale, the chief executive officer now directly owns 120,554 shares of the company’s stock, valued at approximately $12,297,713.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John J. Marchioni sold 2,976 shares of Selective Insurance Group stock in a transaction on Friday, August 25th. The stock was sold at an average price of $99.94, for a total transaction of $297,421.44. Following the completion of the transaction, the chief executive officer now directly owns 141,460 shares of the company’s stock, valued at approximately $14,137,512.40. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SIGI shares. Bank of America increased their price objective on shares of Selective Insurance Group from $93.00 to $100.00 and gave the stock an “underperform” rating in a report on Tuesday, July 25th. Royal Bank of Canada increased their target price on Selective Insurance Group from $105.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. StockNews.com initiated coverage on Selective Insurance Group in a research report on Thursday, October 5th. They set a “hold” rating for the company. Piper Sandler cut their price objective on Selective Insurance Group from $112.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, October 6th. Finally, Oppenheimer started coverage on shares of Selective Insurance Group in a report on Thursday. They issued an “outperform” rating and a $120.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.14.

Selective Insurance Group Profile

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.