Wells Fargo & Company MN grew its stake in Selective Insurance Group (NASDAQ:SIGI) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,116 shares of the insurance provider’s stock after purchasing an additional 14,035 shares during the period. Wells Fargo & Company MN owned about 0.26% of Selective Insurance Group worth $7,759,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in Selective Insurance Group during the 4th quarter worth approximately $35,000. Americana Partners LLC acquired a new stake in Selective Insurance Group during the 4th quarter worth approximately $39,000. Meeder Asset Management Inc. boosted its position in Selective Insurance Group by 87.0% during the 4th quarter. Meeder Asset Management Inc. now owns 1,384 shares of the insurance provider’s stock worth $90,000 after buying an additional 644 shares during the period. PhiloSmith Capital Corp boosted its position in Selective Insurance Group by 1,400.0% during the 1st quarter. PhiloSmith Capital Corp now owns 3,000 shares of the insurance provider’s stock worth $149,000 after buying an additional 2,800 shares during the period. Finally, Vestcor Investment Management Corp acquired a new stake in Selective Insurance Group during the 4th quarter worth approximately $215,000. Institutional investors own 78.14% of the company’s stock.
Several equities research analysts recently commented on SIGI shares. Royal Bank of Canada cut their target price on shares of Selective Insurance Group from $75.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 8th. ValuEngine downgraded shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. Credit Suisse Group upgraded shares of Selective Insurance Group from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $49.00 to $50.00 in a research report on Thursday, May 14th. BidaskClub lowered shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, JMP Securities upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Monday, March 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Selective Insurance Group currently has an average rating of “Hold” and an average target price of $60.00.
NASDAQ:SIGI opened at $52.41 on Tuesday. The company has a fifty day moving average of $51.33 and a 200-day moving average of $57.04. The firm has a market capitalization of $2.99 billion, a P/E ratio of 13.98, a P/E/G ratio of 6.61 and a beta of 0.72. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a twelve month low of $37.05 and a twelve month high of $81.35.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.18). The company had revenue of $664.80 million during the quarter, compared to the consensus estimate of $734.04 million. Selective Insurance Group had a net margin of 8.02% and a return on equity of 12.30%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, analysts anticipate that Selective Insurance Group will post 3.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.92 dividend on an annualized basis and a yield of 1.76%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 20.91%.
In other Selective Insurance Group news, Director William M. Rue purchased 25,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $52.45 per share, for a total transaction of $1,311,250.00. Following the purchase, the director now owns 355,170 shares of the company’s stock, valued at approximately $18,628,666.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Terrence W. Cavanaugh purchased 1,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $50.96 per share, with a total value of $50,960.00. Insiders own 2.00% of the company’s stock.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus 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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