Louisiana State Employees Retirement System acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 17,400 shares of the insurance provider’s stock, valued at approximately $1,312,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in SIGI. Amundi lifted its stake in shares of Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Selective Insurance Group by 5.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,627 shares of the insurance provider’s stock worth $19,555,000 after purchasing an additional 11,167 shares during the period. Focus Partners Wealth increased its position in Selective Insurance Group by 17.9% in the first quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 411 shares during the period. Sivia Capital Partners LLC bought a new stake in Selective Insurance Group during the 2nd quarter worth about $468,000. Finally, Cetera Investment Advisers raised its holdings in Selective Insurance Group by 14.1% during the 2nd quarter. Cetera Investment Advisers now owns 3,749 shares of the insurance provider’s stock worth $325,000 after purchasing an additional 462 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SIGI has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research report on Monday, March 23rd. Oppenheimer lifted their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a research note on Thursday, June 18th. Piper Sandler increased their price objective on shares of 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 shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $84.00 to $97.00 in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $91.67.
Selective Insurance Group Price Performance
Shares of Selective Insurance Group stock opened at $100.15 on Friday. The business has a fifty day simple moving average of $89.53 and a 200 day simple moving average of $84.57. The stock has a market cap of $6.00 billion, a PE ratio of 13.70 and a beta of 0.29. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $100.30.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $1.76 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts predict that Selective Insurance Group, Inc. will post 7.81 EPS for the current year.
Selective Insurance Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.7%. Selective Insurance Group’s dividend payout ratio is 23.53%.
Selective Insurance Group Company 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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