Selective Insurance Group, Inc. $SIGI Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC trimmed its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,734 shares of the insurance provider’s stock after selling 17,361 shares during the quarter. Natixis Advisors LLC owned approximately 0.33% of Selective Insurance Group worth $16,354,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SIGI. AQR Capital Management LLC increased its position in shares of Selective Insurance Group by 174.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,593,645 shares of the insurance provider’s stock worth $137,340,000 after purchasing an additional 1,013,371 shares during the last quarter. Norges Bank bought a new position in shares of Selective Insurance Group during the second quarter worth about $61,437,000. Franklin Resources Inc. grew its stake in Selective Insurance Group by 4,903.4% in the second quarter. Franklin Resources Inc. now owns 347,933 shares of the insurance provider’s stock worth $30,148,000 after purchasing an additional 340,979 shares in the last quarter. American Century Companies Inc. grew its stake in Selective Insurance Group by 1,299.9% in the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after purchasing an additional 280,395 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Selective Insurance Group by 657.3% in the third quarter. First Trust Advisors LP now owns 305,629 shares of the insurance provider’s stock valued at $24,777,000 after buying an additional 265,270 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

SIGI opened at $76.57 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $83.70 and its 200 day moving average price is $81.20. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $93.38. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 10.22 and a beta of 0.23.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.33. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.Selective Insurance Group’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. As a group, sell-side analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a dividend of $0.43 per share. The ex-dividend date was Friday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 2.2%. Selective Insurance Group’s payout ratio is currently 22.96%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler upped their price objective on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods decreased their target price on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research report on Tuesday, January 6th. Royal Bank Of Canada initiated coverage on Selective Insurance Group in a report on Monday, November 24th. They issued an “outperform” rating and a $95.00 price target for the company. Finally, Morgan Stanley raised their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.00.

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.