Goodwin Investment Advisory Takes Position in Selective Insurance Group, Inc. $SIGI

Goodwin Investment Advisory acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,000 shares of the insurance provider’s stock, valued at approximately $582,000. Selective Insurance Group accounts for 1.2% of Goodwin Investment Advisory’s portfolio, making the stock its 13th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Sivia Capital Partners LLC bought a new position in Selective Insurance Group in the 2nd quarter valued at about $468,000. Comerica Bank increased its holdings in Selective Insurance Group by 94.8% during the 4th quarter. Comerica Bank now owns 55,955 shares of the insurance provider’s stock worth $4,682,000 after purchasing an additional 27,236 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Selective Insurance Group by 138.0% in the fourth quarter. Intech Investment Management LLC now owns 62,686 shares of the insurance provider’s stock worth $5,245,000 after purchasing an additional 36,351 shares during the last quarter. UBS Group AG raised its stake in shares of Selective Insurance Group by 46.1% in the fourth quarter. UBS Group AG now owns 237,076 shares of the insurance provider’s stock worth $19,836,000 after purchasing an additional 74,757 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Selective Insurance Group by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,359,224 shares of the insurance provider’s stock valued at $102,473,000 after purchasing an additional 44,532 shares in the last quarter. 82.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SIGI. Keefe, Bruyette & Woods lifted their target price on Selective Insurance Group from $101.00 to $102.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Morgan Stanley raised their price objective on Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price objective on the stock. in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Selective Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Finally, Royal Bank Of Canada increased their target price on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $100.33.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $92.46 on Friday. 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 market capitalization of $5.51 billion, a price-to-earnings ratio of 11.47 and a beta of 0.30. The stock has a 50 day moving average of $95.18 and a 200 day moving average of $87.60. Selective Insurance Group, Inc. has a 12 month low of $72.78 and a 12 month high of $100.40.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.29. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.During the same quarter in the previous year, the firm earned $1.31 earnings per share. As a group, sell-side analysts forecast that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, August 17th. Selective Insurance Group’s payout ratio is presently 21.34%.

Insider Buying and Selling at Selective Insurance Group

In related news, EVP Michael H. Lanza sold 17,100 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total value of $1,608,084.00. Following the transaction, the executive vice president directly owned 16,565 shares of the company’s stock, valued at approximately $1,557,772.60. The trade was a 50.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.