Selective Insurance Group, Inc. $SIGI Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 59.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,616 shares of the insurance provider’s stock after selling 16,731 shares during the period. SG Americas Securities LLC’s holdings in Selective Insurance Group were worth $876,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Baron Wealth Management LLC grew its holdings in Selective Insurance Group by 10.1% in the 1st quarter. Baron Wealth Management LLC now owns 3,461 shares of the insurance provider’s stock worth $261,000 after buying an additional 317 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Selective Insurance Group during the 4th quarter valued at $3,115,000. Rockefeller Capital Management L.P. raised its stake in Selective Insurance Group by 177.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,928 shares of the insurance provider’s stock valued at $245,000 after acquiring an additional 1,874 shares in the last quarter. Virtu Financial LLC acquired a new position in Selective Insurance Group during the 4th quarter worth $306,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in Selective Insurance Group by 117.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,171 shares of the insurance provider’s stock worth $1,102,000 after acquiring an additional 7,112 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of NASDAQ SIGI opened at $100.15 on Monday. The stock has a fifty day moving average price of $89.53 and a two-hundred day moving average price of $84.58. 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 $6.00 billion, a P/E ratio of 13.70 and a beta of 0.29. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $100.30.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). The firm had revenue of $1.36 billion during 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 firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 EPS. Research analysts forecast that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.43 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a yield of 1.7%. Selective Insurance Group’s payout ratio is 23.53%.

Analyst Ratings Changes

A number of brokerages have recently commented on SIGI. Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a report on Thursday, June 18th. Oppenheimer upped their price objective on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Piper Sandler increased their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research note on Monday, March 23rd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $84.00 to $97.00 in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.67.

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.