GSA Capital Partners LLP Purchases 7,800 Shares of Selective Insurance Group, Inc. $SIGI

GSA Capital Partners LLP raised its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 76.3% in the third quarter, Holdings Channel reports. The fund owned 18,020 shares of the insurance provider’s stock after buying an additional 7,800 shares during the quarter. GSA Capital Partners LLP’s holdings in Selective Insurance Group were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Merit Financial Group LLC boosted its stake in Selective Insurance Group by 4.0% during the 3rd quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 129 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of Selective Insurance Group by 1.8% during the third quarter. Belpointe Asset Management LLC now owns 8,559 shares of the insurance provider’s stock worth $694,000 after buying an additional 149 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Selective Insurance Group by 2.4% in the third quarter. Verdence Capital Advisors LLC now owns 6,962 shares of the insurance provider’s stock valued at $535,000 after acquiring an additional 160 shares during the period. Heritage Family Offices LLP grew its stake in shares of Selective Insurance Group by 5.0% in the third quarter. Heritage Family Offices LLP now owns 3,789 shares of the insurance provider’s stock worth $307,000 after acquiring an additional 181 shares during the last quarter. Finally, Pullen Investment Management LLC increased its position in Selective Insurance Group by 0.9% during the second quarter. Pullen Investment Management LLC now owns 22,748 shares of the insurance provider’s stock worth $1,971,000 after acquiring an additional 200 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on SIGI shares. BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target on the stock. in a research report on Tuesday, October 28th. Royal Bank Of Canada assumed coverage on Selective Insurance Group in a research report on Monday, November 24th. They set an “outperform” rating and a $95.00 target price on the stock. Keefe, Bruyette & Woods cut their price target on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a report on Tuesday, January 6th. Morgan Stanley lifted their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, November 17th. Finally, Piper Sandler upped their target price on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.00.

Selective Insurance Group Trading Up 0.1%

Shares of SIGI stock opened at $86.54 on Wednesday. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $93.38. The firm has a 50-day moving average price of $84.32 and a 200 day moving average price of $80.78. 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 company has a market capitalization of $5.20 billion, a P/E ratio of 11.55 and a beta of 0.23.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company earned $1.62 EPS. Selective Insurance Group’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, February 13th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 22.96%.

Selective Insurance Group 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.