Alamar Capital Management LLC Has $1.18 Million Stock Position in Selective Insurance Group, Inc. $SIGI

Alamar Capital Management LLC lowered its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,652 shares of the insurance provider’s stock after selling 443 shares during the quarter. Alamar Capital Management LLC’s holdings in Selective Insurance Group were worth $1,183,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Selective Insurance Group by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,756,225 shares of the insurance provider’s stock valued at $618,465,000 after purchasing an additional 135,324 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Selective Insurance Group by 2.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,150,662 shares of the insurance provider’s stock valued at $99,705,000 after purchasing an additional 22,410 shares during the period. Boston Trust Walden Corp raised its stake in Selective Insurance Group by 6.0% during the 2nd quarter. Boston Trust Walden Corp now owns 1,109,922 shares of the insurance provider’s stock worth $96,175,000 after buying an additional 63,255 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Selective Insurance Group by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 891,871 shares of the insurance provider’s stock worth $81,642,000 after buying an additional 7,641 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Selective Insurance Group by 8.4% during the 1st quarter. Raymond James Financial Inc. now owns 805,704 shares of the insurance provider’s stock worth $73,755,000 after buying an additional 62,503 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley raised their price objective on Selective Insurance Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a research note on Monday, July 28th. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Piper Sandler dropped their price objective on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average price target of $81.00.

Selective Insurance Group Price Performance

SIGI stock opened at $76.56 on Friday. The stock has a 50-day moving average price of $79.79 and a two-hundred day moving average price of $83.75. The stock has a market cap of $4.66 billion, a PE ratio of 11.80 and a beta of 0.39. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Selective Insurance Group had a return on equity of 13.22% and a net margin of 7.78%.The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. Equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.43 per share. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.2%. Selective Insurance Group’s dividend payout ratio is currently 24.88%.

Insiders Place Their Bets

In other news, Director Robert Kelly Doherty bought 1,500 shares of the stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $77.00 per share, for a total transaction of $115,500.00. Following the acquisition, the director owned 27,110 shares in the company, valued at approximately $2,087,470. This trade represents a 5.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas A. Mccarthy bought 2,500 shares of the stock in a transaction on Monday, July 28th. The shares were purchased at an average price of $77.42 per share, with a total value of $193,550.00. Following the acquisition, the director owned 18,746 shares in the company, valued at approximately $1,451,315.32. This represents a 15.39% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 7,200 shares of company stock worth $558,298. Corporate insiders own 1.50% of the company’s stock.

Selective Insurance Group Company 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.