Dockside LLC Takes Position in Selective Insurance Group, Inc. $SIGI

Dockside LLC acquired a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,330 shares of the insurance provider’s stock, valued at approximately $613,000.

Several other institutional investors have also recently made changes to their positions in the stock. Entropy Technologies LP acquired a new position in shares of Selective Insurance Group during the fourth quarter valued at about $826,000. Kestra Advisory Services LLC acquired a new position in shares of Selective Insurance Group during the fourth quarter valued at about $142,000. UMB Bank n.a. raised its holdings in shares of Selective Insurance Group by 79.1% during the fourth quarter. UMB Bank n.a. now owns 1,193 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 527 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Selective Insurance Group by 0.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 675,273 shares of the insurance provider’s stock valued at $56,500,000 after purchasing an additional 2,018 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in shares of Selective Insurance Group during the fourth quarter valued at about $10,684,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $92.41 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a 50-day moving average of $84.98 and a 200-day moving average of $82.88. The company has a market cap of $5.53 billion, a PE ratio of 12.64 and a beta of 0.32. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $92.73.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 earnings per share. As a group, equities research analysts expect that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. Selective Insurance Group’s dividend payout ratio is presently 23.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research report on Monday, March 23rd. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $84.00 to $97.00 in a research report on Thursday, May 7th. Piper Sandler boosted their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their target price on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $91.67.

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.