Zurcher Kantonalbank Zurich Cantonalbank Has $1.39 Million Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.2% during the 4th quarter, HoldingsChannel reports. The firm owned 13,980 shares of the insurance provider’s stock after purchasing an additional 1,289 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Selective Insurance Group were worth $1,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SIGI. FMR LLC grew its holdings in Selective Insurance Group by 11.5% during the third quarter. FMR LLC now owns 3,866,827 shares of the insurance provider’s stock valued at $398,941,000 after purchasing an additional 398,517 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Selective Insurance Group in the fourth quarter worth $8,361,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Selective Insurance Group in the third quarter worth $5,122,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Selective Insurance Group by 11.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 438,571 shares of the insurance provider’s stock worth $45,248,000 after acquiring an additional 45,305 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Selective Insurance Group by 4.5% in the third quarter. Victory Capital Management Inc. now owns 1,040,488 shares of the insurance provider’s stock worth $107,347,000 after acquiring an additional 44,968 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SIGI shares. Royal Bank of Canada lowered their price objective on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a research note on Friday, April 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $105.17.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the transaction, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at $1,112,904.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Selective Insurance Group Stock Down 1.4 %

Shares of SIGI stock opened at $101.70 on Friday. The stock has a market cap of $6.18 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 0.76 and a beta of 0.55. Selective Insurance Group, Inc. has a one year low of $91.99 and a one year high of $109.58. The stock has a fifty day moving average price of $103.80 and a 200 day moving average price of $102.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.02. The company had revenue of $1.11 billion during 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%. Analysts predict that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. 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.