Vise Technologies Inc. Makes New $794,000 Investment in Selective Insurance Group, Inc. $SIGI

Vise Technologies Inc. acquired a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,180 shares of the insurance provider’s stock, valued at approximately $794,000.

Other institutional investors have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. purchased a new position in shares of Selective Insurance Group during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC bought a new stake in Selective Insurance Group in the 4th quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Selective Insurance Group in the second quarter worth approximately $26,000. Amundi boosted its stake in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Selective Insurance Group by 177.5% during the fourth quarter. IFP Advisors Inc now owns 591 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 378 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $91.47 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.29 and a current ratio of 0.29. Selective Insurance Group, Inc. has a fifty-two week low of $72.78 and a fifty-two week high of $100.40. The firm has a market cap of $5.45 billion, a PE ratio of 11.35 and a beta of 0.30. The business has a 50 day moving average price of $95.19 and a 200-day moving average price of $87.47.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate 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 company 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 earnings per share. Equities research analysts predict that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 17th. Selective Insurance Group’s dividend payout ratio (DPR) is 21.34%.

Analysts Set New Price Targets

Several research analysts have commented on SIGI shares. Weiss Ratings raised shares of Selective Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Piper Sandler increased their target price on shares of Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Morgan Stanley lifted their target price on shares of Selective Insurance Group from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods boosted their price target on shares of Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada upped their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and an average target price of $100.33.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group 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 owned 16,565 shares in the company, valued at approximately $1,557,772.60. The trade was a 50.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.

Selective Insurance Group 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.