SG Americas Securities LLC Raises Stock Holdings in Selective Insurance Group, Inc. $SIGI

SG Americas Securities LLC raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 381.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,347 shares of the insurance provider’s stock after acquiring an additional 22,456 shares during the quarter. SG Americas Securities LLC’s holdings in Selective Insurance Group were worth $2,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Corp bought a new stake in shares of Selective Insurance Group in the third quarter valued at about $29,000. Amundi grew its holdings 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 purchasing an additional 311 shares during the last quarter. True Wealth Design LLC increased its position in Selective Insurance Group by 45.9% during the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after buying an additional 129 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Selective Insurance Group by 680.0% in the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 476 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Selective Insurance Group by 38.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

SIGI opened at $76.92 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 10.27 and a beta of 0.26. The stock’s 50-day moving average price is $81.25 and its 200 day moving average price is $80.85. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month 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, beating the consensus estimate of $2.24 by $0.33. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. As a group, sell-side analysts expect 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 was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, February 13th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Selective Insurance Group in a research report on Monday, March 23rd. Piper Sandler raised their target price on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods reduced 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.00.

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.