Squarepoint Ops LLC Has $1.34 Million Stake in Selective Insurance Group, Inc. $SIGI

Squarepoint Ops LLC trimmed its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 47.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 15,418 shares of the insurance provider’s stock after selling 14,175 shares during the quarter. Squarepoint Ops LLC’s holdings in Selective Insurance Group were worth $1,336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in Selective Insurance Group by 219.5% in the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock valued at $31,000 after buying an additional 248 shares during the period. Amundi grew its position in shares of Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares during the period. Brooklyn Investment Group bought a new stake in shares of Selective Insurance Group in the 1st quarter valued at about $38,000. EverSource Wealth Advisors LLC raised its position in shares of Selective Insurance Group by 415.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock valued at $73,000 after acquiring an additional 682 shares during the period. Finally, Signaturefd LLC boosted its stake in Selective Insurance Group by 45.5% during the 2nd quarter. Signaturefd LLC now owns 979 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 306 shares during the last quarter. 82.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Zacks Research raised shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Royal Bank Of Canada began coverage on shares of Selective Insurance Group in a research report on Monday, November 24th. They issued an “outperform” rating and a $95.00 price objective for the company. Keefe, Bruyette & Woods reduced their target price on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Morgan Stanley boosted their target price on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $81.80.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $84.53 on Friday. The company has a fifty day moving average price of $79.18 and a 200 day moving average price of $80.99. The firm has a market cap of $5.11 billion, a PE ratio of 13.02 and a beta of 0.26. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $96.49.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Selective Insurance Group had a return on equity of 12.96% and a net margin of 7.78%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share. Research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.0%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.38. Selective Insurance Group’s dividend payout ratio (DPR) is 26.50%.

About Selective Insurance Group

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.