Quantinno Capital Management LP grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 75.8% during the 1st quarter, HoldingsChannel reports. The fund owned 50,262 shares of the insurance provider’s stock after purchasing an additional 21,664 shares during the period. Quantinno Capital Management LP’s holdings in Selective Insurance Group were worth $3,789,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in SIGI. Amundi boosted its stake in shares of Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 last quarter. Focus Partners Wealth boosted its position in shares of Selective Insurance Group by 17.9% during the first quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider’s stock valued at $248,000 after buying an additional 411 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Selective Insurance Group during the second quarter valued at approximately $468,000. Finally, Cetera Investment Advisers grew its stake in shares of Selective Insurance Group by 14.1% during the second quarter. Cetera Investment Advisers now owns 3,749 shares of the insurance provider’s stock valued at $325,000 after buying an additional 462 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.
Insider Activity at Selective Insurance Group
In related news, EVP Michael H. Lanza sold 17,100 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the completion of the sale, the executive vice president directly owned 16,565 shares in the company, valued at $1,557,772.60. This represents a 50.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.
Selective Insurance Group Price Performance
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.29. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. During the same period last year, the company posted $1.31 earnings per share. Equities analysts predict that Selective Insurance Group, Inc. will post 8.05 earnings per share for the current fiscal year.
Selective Insurance Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 17th. Selective Insurance Group’s payout ratio is presently 21.34%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Oppenheimer increased their target price 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. BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 target price for the company. in a research report on Tuesday, July 28th. Piper Sandler boosted their target price on shares of Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.33.
View Our Latest Stock Analysis on SIGI
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.
Read More
- Five stocks we like better than Selective Insurance Group
- Datadog’s Drop Says More About Expectations Than Earnings
- D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off
- Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus
- Solventum Nears Inflection Point As It Begins to Unlock Value
Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report).
Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.
