UBS Group AG Increases Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

UBS Group AG boosted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGIFree Report) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,302 shares of the insurance provider’s stock after purchasing an additional 13,237 shares during the quarter. UBS Group AG owned about 0.14% of Selective Insurance Group worth $8,685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 104 shares during the period. Headinvest LLC purchased a new stake in Selective Insurance Group during the third quarter worth $62,000. Morton Brown Family Wealth LLC bought a new stake in Selective Insurance Group during the 4th quarter valued at $82,000. NJ State Employees Deferred Compensation Plan bought a new stake in Selective Insurance Group during the 3rd quarter valued at $206,000. Finally, SG Americas Securities LLC increased its holdings in shares of Selective Insurance Group by 16.5% in the 4th quarter. SG Americas Securities LLC now owns 2,001 shares of the insurance provider’s stock valued at $199,000 after acquiring an additional 283 shares during the period. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SIGI shares. Piper Sandler restated a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Monday, April 15th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $105.17.

View Our Latest Analysis on SIGI

Selective Insurance Group Price Performance

Shares of SIGI stock opened at $97.07 on Tuesday. Selective Insurance Group, Inc. has a fifty-two week low of $92.06 and a fifty-two week high of $109.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 0.88 and a beta of 0.56. The stock’s 50-day simple moving average is $100.71 and its 200-day simple moving average is $101.66.

Selective Insurance Group (NASDAQ:SIGIGet Free Report) last released its earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.55). The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 EPS. As a group, equities analysts forecast that Selective Insurance Group, Inc. will post 6.87 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Tuesday, May 14th. Selective Insurance Group’s payout ratio is 24.74%.

About Selective Insurance Group

(Free Report)

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.

Further Reading

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

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