Hsbc Holdings PLC Makes New Investment in Selective Insurance Group, Inc. $SIGI

Hsbc Holdings PLC acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 37,066 shares of the insurance provider’s stock, valued at approximately $3,115,000. Hsbc Holdings PLC owned 0.06% of Selective Insurance Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Selective Insurance Group in the fourth quarter valued at about $306,000. Mercer Global Advisors Inc. ADV increased its stake in Selective Insurance Group by 117.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,171 shares of the insurance provider’s stock valued at $1,102,000 after acquiring an additional 7,112 shares during the period. Beacon Pointe Advisors LLC acquired a new position in Selective Insurance Group in the 4th quarter valued at approximately $277,000. EP Wealth Advisors LLC acquired a new position in Selective Insurance Group in the 4th quarter valued at approximately $500,000. Finally, Empowered Funds LLC acquired a new position in Selective Insurance Group in the 4th quarter valued at approximately $180,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Ratings Changes

SIGI has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Selective Insurance Group in a research report on Monday, March 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Oppenheimer boosted their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $84.00 to $97.00 in a research note on Thursday, May 7th. Finally, Piper Sandler increased their price objective on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group currently has a consensus rating of “Hold” and an average price target of $91.67.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $96.30 on Monday. The business’s fifty day moving average is $87.75 and its two-hundred day moving average is $83.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $5.77 billion, a P/E ratio of 13.17 and a beta of 0.32. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $97.32.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business posted $1.76 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts forecast that Selective Insurance Group, Inc. will post 7.81 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 1.8%. Selective Insurance Group’s dividend payout ratio is currently 23.53%.

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.