Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGIFree Report) by 18.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,574 shares of the insurance provider’s stock after selling 823 shares during the period. Bank of Nova Scotia’s holdings in Selective Insurance Group were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in shares of Selective Insurance Group by 17.9% during the 4th quarter. UBS Group AG now owns 87,302 shares of the insurance provider’s stock worth $8,685,000 after purchasing an additional 13,237 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Selective Insurance Group by 6.3% in the third quarter. Natixis Advisors L.P. now owns 89,197 shares of the insurance provider’s stock worth $9,203,000 after acquiring an additional 5,289 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Selective Insurance Group by 1.8% in the fourth quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock worth $97,791,000 after acquiring an additional 17,800 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Selective Insurance Group in the fourth quarter worth approximately $3,851,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Selective Insurance Group by 45.6% in the third quarter. Envestnet Asset Management Inc. now owns 94,670 shares of the insurance provider’s stock worth $9,767,000 after acquiring an additional 29,662 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SIGI. Piper Sandler reissued a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Finally, Oppenheimer reissued an “outperform” rating and issued 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.17.

Get Our Latest Stock Analysis on Selective Insurance Group

Selective Insurance Group Trading Up 0.5 %

NASDAQ SIGI opened at $94.21 on Monday. Selective Insurance Group, Inc. has a one year low of $92.06 and a one year high of $109.58. The company’s 50 day moving average price is $99.48 and its 200 day moving average price is $101.41. 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 $5.73 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.84 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGIGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.55). Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The company’s quarterly revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 6.87 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.35 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.40 annualized dividend and a yield of 1.49%. Selective Insurance Group’s payout ratio is 24.74%.

Selective Insurance Group Company Profile

(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.

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

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