Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 4.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 173,869 shares of the insurance provider’s stock after selling 8,439 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Selective Insurance Group were worth $13,108,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new position in shares of Selective Insurance Group during the 4th quarter worth about $25,000. Los Angeles Capital Management LLC bought a new stake in Selective Insurance Group during the fourth quarter worth about $25,000. Amundi grew 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 purchasing an additional 311 shares in the last quarter. First Horizon Corp grew its stake in Selective Insurance Group by 52.8% in the fourth quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 190 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Selective Insurance Group by 177.5% during the 4th quarter. IFP Advisors Inc now owns 591 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 378 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.
Selective Insurance Group Price Performance
NASDAQ:SIGI opened at $92.78 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is $93.17 and its two-hundred day moving average price is $85.94. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 11.51 and a beta of 0.29. Selective Insurance Group, Inc. has a 12-month low of $72.78 and a 12-month high of $100.40.
Selective Insurance Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, August 17th. Selective Insurance Group’s dividend payout ratio is 21.34%.
Analyst Ratings Changes
SIGI has been the topic of a number of analyst reports. Oppenheimer upped their price objective on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Weiss Ratings raised shares of Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of Selective Insurance Group from $88.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Royal Bank Of Canada upped their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $84.00 to $97.00 in a research note on Thursday, May 7th. Three equities 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.17.
Read Our Latest Report on Selective Insurance Group
About Selective Insurance Group
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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