William Blair Investment Management LLC Has $29.91 Million Stock Position in Selective Insurance Group, Inc. $SIGI

William Blair Investment Management LLC trimmed its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,467 shares of the insurance provider’s stock after selling 37,394 shares during the quarter. William Blair Investment Management LLC owned approximately 0.59% of Selective Insurance Group worth $29,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AGF Management Ltd. acquired a new stake in shares of Selective Insurance Group during the third quarter worth approximately $3,448,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Selective Insurance Group during the third quarter worth approximately $5,082,000. American Century Companies Inc. boosted its holdings in shares of Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after purchasing an additional 280,395 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Selective Insurance Group by 381.2% during the fourth quarter. SG Americas Securities LLC now owns 28,347 shares of the insurance provider’s stock worth $2,372,000 after purchasing an additional 22,456 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Selective Insurance Group during the second quarter worth approximately $468,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Selective Insurance Group in a report on Monday, March 23rd. Keefe, Bruyette & Woods raised their price target on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Piper Sandler raised 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. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $84.00 to $97.00 in a report on Thursday, May 7th. Finally, Oppenheimer raised their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.50.

Selective Insurance Group Price Performance

Shares of SIGI opened at $90.70 on Monday. The firm has a market cap of $5.43 billion, a PE ratio of 12.41 and a beta of 0.32. The firm’s 50 day moving average price is $80.96 and its 200 day moving average price is $81.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $91.63.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. Selective Insurance Group’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.76 EPS. As a group, research analysts expect that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 15th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 23.53%.

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.