Lighthouse Investment Partners LLC Takes $5.08 Million Position in Selective Insurance Group, Inc. $SIGI

Lighthouse Investment Partners LLC bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 62,683 shares of the insurance provider’s stock, valued at approximately $5,082,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Horizon Corp purchased a new stake in Selective Insurance Group during the 3rd quarter worth about $29,000. Amundi boosted its stake in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after buying an additional 311 shares during the period. Rothschild Investment LLC boosted its stake in shares of Selective Insurance Group by 680.0% in the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock valued at $44,000 after buying an additional 476 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Selective Insurance Group by 415.9% during the second quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock worth $73,000 after buying an additional 682 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Selective Insurance Group by 362.1% during the third quarter. Versant Capital Management Inc now owns 901 shares of the insurance provider’s stock worth $73,000 after buying an additional 706 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank Of Canada initiated coverage on shares of Selective Insurance Group in a report on Monday, November 24th. They issued an “outperform” rating and a $95.00 target price on the stock. Piper Sandler boosted their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 6th. Finally, Morgan Stanley lifted their price objective on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, November 17th. One investment 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 presently has an average rating of “Hold” and an average target price of $83.00.

Selective Insurance Group Trading Up 0.2%

NASDAQ SIGI opened at $76.56 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The firm’s fifty day moving average price is $83.38 and its 200 day moving average price is $81.22. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 10.22 and a beta of 0.23. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $93.38.

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

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders 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 dividend yield of 2.2%. Selective Insurance Group’s payout ratio is 22.96%.

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.