Van ECK Associates Corp Has $143,000 Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Van ECK Associates Corp raised its position in Selective Insurance Group, Inc. (NASDAQ:SIGIGet Rating) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the insurance provider’s stock after buying an additional 158 shares during the quarter. Van ECK Associates Corp’s holdings in Selective Insurance Group were worth $143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SIGI. FMR LLC grew its holdings in Selective Insurance Group by 375.5% in the 2nd quarter. FMR LLC now owns 1,363,007 shares of the insurance provider’s stock valued at $118,500,000 after buying an additional 1,076,345 shares in the last quarter. Eaton Vance Management grew its holdings in Selective Insurance Group by 27.0% in the 1st quarter. Eaton Vance Management now owns 998,842 shares of the insurance provider’s stock valued at $89,256,000 after buying an additional 212,085 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Selective Insurance Group by 63.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 501,101 shares of the insurance provider’s stock valued at $43,566,000 after buying an additional 194,753 shares in the last quarter. State Street Corp grew its holdings in Selective Insurance Group by 6.2% in the 1st quarter. State Street Corp now owns 2,002,044 shares of the insurance provider’s stock valued at $178,903,000 after buying an additional 116,106 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Selective Insurance Group by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 2,752,581 shares of the insurance provider’s stock valued at $239,309,000 after buying an additional 84,594 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SIGI shares. BMO Capital Markets started coverage on Selective Insurance Group in a report on Thursday. They set a “market perform” rating on the stock. Janney Montgomery Scott started coverage on Selective Insurance Group in a report on Friday, November 11th. They set a “neutral” rating and a $96.00 target price on the stock. StockNews.com started coverage on Selective Insurance Group in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley increased their target price on Selective Insurance Group from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, November 22nd. Finally, Piper Sandler increased their target price on Selective Insurance Group from $88.00 to $91.00 in a report on Tuesday, January 10th.

Selective Insurance Group Price Performance

Shares of SIGI stock opened at $89.75 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23. Selective Insurance Group, Inc. has a twelve month low of $66.81 and a twelve month high of $98.80. The company has a market cap of $5.41 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.39 and a beta of 0.62. The business has a fifty day simple moving average of $91.58 and a 200 day simple moving average of $86.84.

Selective Insurance Group (NASDAQ:SIGIGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.17). Selective Insurance Group had a return on equity of 12.79% and a net margin of 6.76%. The business had revenue of $920.70 million for the quarter, compared to the consensus estimate of $908.21 million. On average, sell-side analysts forecast that Selective Insurance Group, Inc. will post 5.02 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were given a $0.30 dividend. The ex-dividend date was Monday, November 14th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 1.34%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 32.00%.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, Director John Burville sold 2,652 shares of the stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the transaction, the director now directly owns 83,649 shares in the company, valued at $7,990,152.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Selective Insurance Group news, Director J Brian Thebault sold 3,269 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $93.28, for a total value of $304,932.32. Following the completion of the transaction, the director now directly owns 51,500 shares in the company, valued at $4,803,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Burville sold 2,652 shares of the stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the transaction, the director now owns 83,649 shares of the company’s stock, valued at $7,990,152.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,734 shares of company stock worth $825,796. 2.00% of the stock is currently owned by insiders.

About Selective Insurance Group

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Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and casualty insurance products that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party, as well as flood insurance products.

See Also

Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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