Rothschild & Co. Asset Management US Inc. reduced its position in Selective Insurance Group, Inc. (NASDAQ: SIGI – Get Rating ) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,902 shares of the insurance provider’s stock after selling 2,120 shares during the period. The holdings of Rothschild & Co. Asset Management US Inc. in Selective Insurance Group were worth $2,271,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Pinebridge Investments LP boosted its holdings in Selective Insurance Group by 268.0% in the second quarter. Pinebridge Investments LP now owns 368 shares of the insurance provider’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Selective Insurance Group in the second quarter worth about $38,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Selective Insurance Group in the third quarter worth about $36,000. Covestor Ltd increased its stake in Selective Insurance Group by 37.3% in the first quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock valued at $67,000 after buying an additional 203 shares during the last quarter. Finally, First Horizon Advisors Inc. acquired a new position in Selective Insurance Group in the second quarter valued at approximately $72,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.
Insider dealings at Selective Insurance Group
In other news, Director John Burville sold 2,652 shares of the business’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total transaction of $253,319.04. Following the transaction, the director now directly owns 83,649 shares in the company, valued at $7,990,152.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John Burville sold 2,652 shares of the stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the transaction, the director now owns 83,649 shares in the company, valued at approximately $7,990,152.48. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available through the SEC’s website. Also, Director J Brian Thebault sold 3,269 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $93.28, for a total transaction of $304,932.32. Following the completion of the transaction, the director now directly owns 51,500 shares of the company’s stock, valued at $4,803,920. Disclosure of this sale can be found here. In the last quarter, insiders sold 8,734 shares of company stock valued at $825,796. Company insiders own 2.00% of the company’s shares.
Introducing Selective Insurance Group shares
Shares of SIGI stock opened at $92.79 on Monday. The stock’s 50-day moving average is $91.63 and its 200-day moving average is $87.05. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23. The stock has a market cap of $5.59 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.34 and a beta of 0.62. Selective Insurance Group, Inc. has a 52-week low of $66.81 and a 52-week high of $98.80.
Selective Insurance Group (NASDAQ:SIGI – Get Rating ) last announced its earnings results on Wednesday, November 2nd. The insurance provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.17). Selective Insurance Group had a net margin of 6.76% and a return on equity of 12.79%. The company had revenue of $920.70 million during the quarter, compared to analysts’ expectations of $908.21 million. As a group, equities research analysts predict that Selective Insurance Group, Inc. will post 5.04 EPS for the current year.
Selective Insurance Group increases dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents an annualized dividend of $1.20 and a yield of 1.29%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.28. Selective Insurance Group’s dividend payout ratio is currently 32.00%.
Changes in analyst ratings
Several research analysts recently issued reports on SIGI shares. StockNews.com started coverage on shares of Selective Insurance Group in a report on Wednesday, October 12th. They issued a “hold” rating on the company. Janney Montgomery Scott initiated coverage on Selective Insurance Group in a report on Friday, November 11th. They set a “neutral” rating and a $96.00 target price on the stock. Piper Sandler boosted their target price on Selective Insurance Group from $88.00 to $91.00 in a report on Tuesday, January 10th. Morgan Stanley boosted their price objective on Selective Insurance Group from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 22nd. Finally, BMO Capital Markets began coverage on Selective Insurance Group in a research note on Thursday, January 19th. They issued a “market perform” rating and a $90.00 target price for the company.
Profile of Selective Insurance Group
(Get Rating)
Selective Insurance Group, Inc provides property and casualty insurance products. It operates through the following segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. The Standard Commercial Lines segment offers insurance products and services to commercial customers, such as non-profit organizations and local government agencies.
See also
This instant news alert is generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Selective Insurance Group, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients daily. MarketBeat identified the five stocks top analysts are quietly whispering to their clients to buy now before the broader market takes a nosedive … and Selective Insurance Group wasn’t on the list.
While Selective Insurance Group currently has a “Hold” rating among analysts, the top-rated analysts think these five stocks are better buys.
Check out the five stocks here
