Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 32,436 shares of the insurance provider’s stock after acquiring an additional 143 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Selective Insurance Group were worth $3,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Selective Insurance Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider’s stock valued at $636,065,000 after purchasing an additional 41,639 shares during the last quarter. FMR LLC lifted its position in shares of Selective Insurance Group by 11.5% in the 3rd quarter. FMR LLC now owns 3,866,827 shares of the insurance provider’s stock worth $398,941,000 after buying an additional 398,517 shares during the last quarter. Victory Capital Management Inc. raised its stake in Selective Insurance Group by 14.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,190,389 shares of the insurance provider’s stock worth $118,420,000 after acquiring an additional 149,901 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Selective Insurance Group by 1.8% during the fourth quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock valued at $97,791,000 after purchasing an additional 17,800 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Selective Insurance Group by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 923,764 shares of the insurance provider’s stock worth $95,305,000 after purchasing an additional 18,508 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Selective Insurance Group

In other news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the sale, the chief operating officer now owns 10,511 shares of the company’s stock, valued at $1,112,904.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Royal Bank of Canada cut their price target on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Oppenheimer restated an “outperform” rating and issued a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. Keefe, Bruyette & Woods decreased their price target on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 price objective on shares of Selective Insurance Group in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $105.17.

Selective Insurance Group Price Performance

NASDAQ:SIGI opened at $96.41 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $103.38 and its 200 day moving average price is $102.59. Selective Insurance Group, Inc. has a 52-week low of $91.99 and a 52-week high of $109.58. The firm has a market cap of $5.86 billion, a P/E ratio of 17.03, a PEG ratio of 0.77 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.49 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio is 24.74%.

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 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; 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; and flood insurance products.