Selective Insurance Group, Inc. $SIGI Stock Holdings Trimmed by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 30.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 69,466 shares of the insurance provider’s stock after selling 30,553 shares during the quarter. Sei Investments Co. owned about 0.12% of Selective Insurance Group worth $5,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of Selective Insurance Group by 56.3% during the fourth quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock valued at $339,662,000 after purchasing an additional 1,462,838 shares in the last quarter. Norges Bank bought a new position in Selective Insurance Group in the 4th quarter valued at about $65,625,000. First Trust Advisors LP grew its position in Selective Insurance Group by 239.1% in the 4th quarter. First Trust Advisors LP now owns 1,036,519 shares of the insurance provider’s stock valued at $86,726,000 after buying an additional 730,890 shares in the last quarter. Bank of America Corp DE increased its stake in Selective Insurance Group by 40.0% during the 2nd quarter. Bank of America Corp DE now owns 725,980 shares of the insurance provider’s stock valued at $62,906,000 after buying an additional 207,258 shares during the period. Finally, Franklin Resources Inc. increased its stake in Selective Insurance Group by 58.9% during the 3rd quarter. Franklin Resources Inc. now owns 552,880 shares of the insurance provider’s stock valued at $44,822,000 after buying an additional 204,947 shares during the period. Institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

SIGI has been the subject of a number of research analyst reports. 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. Morgan Stanley raised their price objective on shares of Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods boosted their target price on Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Oppenheimer upped their target price on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Finally, Piper Sandler increased their price target on Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and a consensus target price of $100.33.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $96.63 on Wednesday. Selective Insurance Group, Inc. has a twelve month low of $72.78 and a twelve month high of $100.40. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $93.84 and a 200-day moving average of $86.44. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 11.99 and a beta of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.29. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm earned $1.31 EPS. Analysts forecast that Selective Insurance Group, Inc. will post 7.98 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.43 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.72 annualized dividend and a yield of 1.8%. Selective Insurance Group’s payout ratio is 21.34%.

Insider Activity

In other Selective Insurance Group 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 value of $1,608,084.00. Following the transaction, the executive vice president owned 16,565 shares of the company’s stock, valued at approximately $1,557,772.60. This represents a 50.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

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.