Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 21.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,848 shares of the insurance provider’s stock after purchasing an additional 1,573 shares during the quarter. Cerity Partners LLC’s holdings in Selective Insurance Group were worth $810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Selective Insurance Group in the 4th quarter worth approximately $93,409,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Selective Insurance Group by 36.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider’s stock valued at $103,280,000 after acquiring an additional 299,925 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Selective Insurance Group by 245.7% during the 4th quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider’s stock valued at $26,622,000 after buying an additional 202,318 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Selective Insurance Group by 39.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider’s stock valued at $52,796,000 after purchasing an additional 160,193 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in Selective Insurance Group in the 4th quarter worth approximately $10,484,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley raised their target price on shares of Selective Insurance Group from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Finally, BMO Capital Markets increased their price target on Selective Insurance Group from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.80.

Selective Insurance Group Price Performance

SIGI stock opened at $90.40 on Thursday. The business has a 50-day simple moving average of $86.96 and a two-hundred day simple moving average of $87.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $5.49 billion, a P/E ratio of 24.63 and a beta of 0.48. Selective Insurance Group, Inc. has a 52-week low of $78.13 and a 52-week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.28). Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. During the same quarter in the previous year, the company earned ($1.10) EPS. Research analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.68%. Selective Insurance Group’s payout ratio is currently 41.42%.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the sale, the chief accounting officer owned 15,946 shares of the company’s stock, valued at approximately $1,388,258.76. The trade was a 7.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.

Selective Insurance Group 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.