Selective Insurance Group, Inc. $SIGI Shares Acquired by Hantz Financial Services Inc.

Hantz Financial Services Inc. increased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 90.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,719 shares of the insurance provider’s stock after acquiring an additional 2,243 shares during the quarter. Hantz Financial Services Inc.’s holdings in Selective Insurance Group were worth $409,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Olde Wealth Management LLC acquired a new position in Selective Insurance Group in the first quarter valued at approximately $28,000. Parallel Advisors LLC lifted its holdings in shares of Selective Insurance Group by 219.5% in the 2nd quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Amundi lifted its holdings in shares of Selective Insurance Group by 398.7% in 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 last quarter. Brooklyn Investment Group acquired a new position in Selective Insurance Group during the 1st quarter valued at approximately $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Selective Insurance Group by 752.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider’s stock worth $49,000 after buying an additional 474 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

SIGI has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their target price on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a research report on Friday, October 24th. Zacks Research raised shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, October 28th. Morgan Stanley upped their target price on shares of Selective Insurance Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 7th. Finally, Piper Sandler dropped their price target on shares of Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Selective Insurance Group currently has an average rating of “Reduce” and an average target price of $78.75.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $75.34 on Monday. The firm has a market capitalization of $4.55 billion, a PE ratio of 11.61 and a beta of 0.39. The company has a quick ratio of 0.33, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $79.62 and a 200 day moving average price of $83.26. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS. On average, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 14th. Selective Insurance Group’s payout ratio is currently 26.50%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.