SG Americas Securities LLC decreased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 59.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,616 shares of the insurance provider’s stock after selling 16,731 shares during the quarter. SG Americas Securities LLC’s holdings in Selective Insurance Group were worth $876,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Selective Insurance Group during the 4th quarter worth $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Selective Insurance Group in the 4th quarter valued at $25,000. True Wealth Design LLC boosted its position in shares of Selective Insurance Group by 45.9% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 129 shares during the period. Amundi increased its stake in Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 311 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Selective Insurance Group by 38.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.
Selective Insurance Group Price Performance
SIGI opened at $100.15 on Monday. The stock has a fifty day moving average price of $89.53 and a 200 day moving average price of $84.58. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $100.30. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 13.70 and a beta of 0.29.
Selective Insurance Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend yield of 1.7%. Selective Insurance Group’s payout ratio is currently 23.53%.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Piper Sandler boosted their price objective on Selective Insurance Group from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $84.00 to $97.00 in a research report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their target price on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a report on Thursday, June 18th. Finally, Oppenheimer upped their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $91.67.
Read Our Latest Stock Report on Selective Insurance Group
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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