Y Intercept Hong Kong Ltd Has $3.33 Million Stock Position in Selective Insurance Group, Inc. $SIGI

Y Intercept Hong Kong Ltd boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 63.9% in the 1st quarter, Holdings Channel reports. The firm owned 44,100 shares of the insurance provider’s stock after buying an additional 17,195 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Selective Insurance Group were worth $3,325,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Amundi increased its stake in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Selective Insurance Group by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,627 shares of the insurance provider’s stock worth $19,555,000 after buying an additional 11,167 shares during the last quarter. Focus Partners Wealth boosted its stake in Selective Insurance Group by 17.9% in the first quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider’s stock valued at $248,000 after buying an additional 411 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Selective Insurance Group in the second quarter valued at about $468,000. Finally, Cetera Investment Advisers grew its position in Selective Insurance Group by 14.1% in the second quarter. Cetera Investment Advisers now owns 3,749 shares of the insurance provider’s stock valued at $325,000 after acquiring an additional 462 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 1.1%

Shares of NASDAQ:SIGI traded up $1.06 during mid-day trading on Tuesday, reaching $99.33. 63,706 shares of the company’s stock were exchanged, compared to its average volume of 572,398. 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 $100.40. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 13.66 and a beta of 0.29. The business’s fifty day moving average price is $89.81 and its 200-day moving average price is $84.68.

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

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.43 per share. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 1.7%. Selective Insurance Group’s dividend payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

SIGI has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a research note on Thursday, June 18th. Keefe, Bruyette & Woods upped their price objective on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Oppenheimer increased their price objective on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Piper Sandler raised their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research note on Monday, March 23rd. 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.00.

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.