Hsbc Holdings PLC acquired a new stake in Selective Insurance Group (NASDAQ:SIGI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 64,140 shares of the insurance provider’s stock, valued at approximately $3,892,000. Hsbc Holdings PLC owned approximately 0.11% of Selective Insurance Group at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Csenge Advisory Group acquired a new stake in shares of Selective Insurance Group in the third quarter valued at $56,000. Private Capital Group LLC raised its stake in shares of Selective Insurance Group by 55.5% in the fourth quarter. Private Capital Group LLC now owns 1,056 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 377 shares in the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at $101,000. First Quadrant L P CA acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at $108,000. Finally, FMR LLC acquired a new stake in Selective Insurance Group in the third quarter valued at $114,000. Institutional investors and hedge funds own 79.19% of the company’s stock.
Selective Insurance Group stock opened at $63.96 on Friday. Selective Insurance Group has a 1-year low of $53.55 and a 1-year high of $67.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.19 and a beta of 0.96.
Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Thursday, January 31st. The insurance provider reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.26. Selective Insurance Group had a return on equity of 12.69% and a net margin of 6.92%. The company had revenue of $680.90 million for the quarter, compared to analysts’ expectations of $661.70 million. As a group, analysts anticipate that Selective Insurance Group will post 4.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 14th. Selective Insurance Group’s dividend payout ratio is presently 21.86%.
In other news, Director Paul D. Bauer sold 10,000 shares of Selective Insurance Group stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $66.28, for a total transaction of $662,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Burville sold 3,614 shares of Selective Insurance Group stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $66.27, for a total value of $239,499.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,614 shares of company stock worth $1,233,550. 2.00% of the stock is owned by insiders.
A number of research firms have weighed in on SIGI. Zacks Investment Research upgraded Selective Insurance Group from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Tuesday, February 12th. BidaskClub upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Buckingham Research began coverage on Selective Insurance Group in a research note on Friday, December 14th. They issued a “neutral” rating and a $62.00 price target on the stock. Finally, ValuEngine cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $64.25.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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