Kennedy Capital Management LLC cut its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 189,838 shares of the insurance provider’s stock after selling 25,227 shares during the quarter. Kennedy Capital Management LLC owned about 0.32% of Selective Insurance Group worth $15,884,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SIGI. Eurizon Capital SGR S.p.A. purchased a new stake in Selective Insurance Group in the fourth quarter valued at about $25,000. Los Angeles Capital Management LLC purchased a new stake in Selective Insurance Group in the fourth quarter valued at about $25,000. True Wealth Design LLC raised its stake in Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Amundi raised its stake in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after buying an additional 311 shares during the last quarter. Finally, Rothschild Investment LLC raised its stake in Selective Insurance Group by 680.0% in the third quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock valued at $44,000 after buying an additional 476 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods increased their price target on Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Oppenheimer increased their price target on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Selective Insurance Group in a report on Monday, March 23rd. Piper Sandler increased their price objective on Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $84.00 to $97.00 in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $91.67.
Selective Insurance Group Stock Up 0.5%
Shares of SIGI opened at $92.41 on Friday. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $92.73. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 12.64 and a beta of 0.32. The stock’s 50-day moving average price is $84.98 and its 200-day moving average price is $82.85.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.81 EPS for the current year.
Selective Insurance Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.43 per share. The ex-dividend date was Friday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. Selective Insurance Group’s dividend payout ratio is currently 23.53%.
Selective Insurance Group Profile
Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.
The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.
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