Thrivent Financial for Lutherans Boosts Stock Position in Selective Insurance Group, Inc. $SIGI

Thrivent Financial for Lutherans boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 12.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,354 shares of the insurance provider’s stock after purchasing an additional 7,429 shares during the period. Thrivent Financial for Lutherans owned about 0.11% of Selective Insurance Group worth $5,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Amundi lifted its stake in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Selective Insurance Group by 5.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,627 shares of the insurance provider’s stock valued at $19,555,000 after buying an additional 11,167 shares during the period. Focus Partners Wealth raised 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 worth $248,000 after buying an additional 411 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Selective Insurance Group in the second quarter worth about $468,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Selective Insurance Group during the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SIGI shares. Morgan Stanley increased their price target on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, November 17th. Piper Sandler boosted their target price on Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday. BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target for the company. in a report on Tuesday, October 28th. Keefe, Bruyette & Woods cut their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada initiated coverage on shares of Selective Insurance Group in a report on Monday, November 24th. They issued an “outperform” rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $83.00.

Selective Insurance Group Price Performance

NASDAQ SIGI opened at $90.10 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.44 billion, a P/E ratio of 12.03 and a beta of 0.23. The company has a 50-day moving average price of $82.95 and a 200-day moving average price of $80.46. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $93.38.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.24 by $0.33. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. Selective Insurance Group’s payout ratio is currently 22.96%.

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.