XTX Topco Ltd Purchases New Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

XTX Topco Ltd acquired a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the first quarter, Holdings Channel reports. The fund acquired 12,620 shares of the insurance provider’s stock, valued at approximately $1,155,000.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Selective Insurance Group by 0.3% during the first quarter. Principal Financial Group Inc. now owns 141,658 shares of the insurance provider’s stock worth $12,967,000 after purchasing an additional 493 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Selective Insurance Group by 11.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,317 shares of the insurance provider’s stock worth $761,000 after buying an additional 861 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Selective Insurance Group by 221.3% during the 1st quarter. SG Americas Securities LLC now owns 7,113 shares of the insurance provider’s stock worth $651,000 after buying an additional 4,899 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Selective Insurance Group in the 1st quarter worth approximately $225,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Selective Insurance Group in the 1st quarter worth approximately $2,559,000. 82.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SIGI. Morgan Stanley dropped their price target on Selective Insurance Group from $90.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, July 25th. Wall Street Zen raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. Piper Sandler decreased their price target on shares of Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Keefe, Bruyette & Woods lowered their price objective on shares of Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating for the company in a research report on Monday, July 28th. Finally, BMO Capital Markets raised their target price on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $91.00.

Selective Insurance Group Stock Performance

SIGI stock opened at $77.47 on Friday. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $103.56. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.68 and a beta of 0.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.33. The stock’s fifty day moving average is $85.57 and its two-hundred day moving average is $86.88.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same quarter in the prior year, the business earned ($1.10) earnings per share. On average, research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. Selective Insurance Group’s dividend payout ratio is 24.88%.

Insiders Place Their Bets

In other Selective Insurance Group news, EVP Joseph Eppers purchased 1,402 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $76.82 per share, with a total value of $107,701.64. Following the completion of the purchase, the executive vice president owned 12,492 shares in the company, valued at $959,635.44. This trade represents a 12.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John J. Marchioni acquired 3,200 shares of Selective Insurance Group stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average cost of $77.89 per share, with a total value of $249,248.00. Following the acquisition, the chief executive officer directly owned 139,775 shares of the company’s stock, valued at approximately $10,887,074.75. This trade represents a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 9,102 shares of company stock valued at $701,940. 1.50% of the stock is owned by corporate insiders.

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 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.