SG Americas Securities LLC Has $199,000 Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

SG Americas Securities LLC lifted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 16.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,001 shares of the insurance provider’s stock after buying an additional 283 shares during the quarter. SG Americas Securities LLC’s holdings in Selective Insurance Group were worth $199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Selective Insurance Group by 0.3% during the first quarter. BlackRock Inc. now owns 7,113,349 shares of the insurance provider’s stock worth $678,116,000 after buying an additional 18,555 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Selective Insurance Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider’s stock worth $636,065,000 after buying an additional 41,639 shares in the last quarter. FMR LLC lifted its holdings in shares of Selective Insurance Group by 11.5% during the third quarter. FMR LLC now owns 3,866,827 shares of the insurance provider’s stock worth $398,941,000 after buying an additional 398,517 shares in the last quarter. Macquarie Group Ltd. raised its stake in Selective Insurance Group by 3.2% in the second quarter. Macquarie Group Ltd. now owns 2,752,581 shares of the insurance provider’s stock valued at $239,309,000 after purchasing an additional 84,594 shares in the last quarter. Finally, State Street Corp raised its stake in Selective Insurance Group by 1.7% in the first quarter. State Street Corp now owns 2,138,623 shares of the insurance provider’s stock valued at $203,875,000 after purchasing an additional 36,024 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Insider Activity at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the sale, the chief operating officer now directly owns 10,511 shares in the company, valued at $1,112,904.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on SIGI. Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Selective Insurance Group in a research note on Monday, April 1st. Royal Bank of Canada dropped their price target on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods dropped their price target on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.17.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $101.19 on Friday. The stock has a market cap of $6.15 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $103.48 and its 200-day moving average is $102.91. Selective Insurance Group, Inc. has a 1-year low of $91.99 and a 1-year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.02. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.38%. The ex-dividend date was Wednesday, February 14th. Selective Insurance Group’s payout ratio is presently 24.01%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers 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; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.