Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Cwm LLC

Cwm LLC cut its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 32.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,339 shares of the insurance provider’s stock after selling 1,113 shares during the period. Cwm LLC’s holdings in Selective Insurance Group were worth $214,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC acquired a new position in Selective Insurance Group during the first quarter worth $28,000. Quarry LP acquired a new position in Selective Insurance Group during the fourth quarter worth $38,000. Toth Financial Advisory Corp acquired a new position in Selective Insurance Group during the first quarter worth $41,000. UMB Bank n.a. raised its position in Selective Insurance Group by 116.3% during the first quarter. UMB Bank n.a. now owns 928 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 499 shares during the period. Finally, CX Institutional acquired a new position in Selective Insurance Group during the first quarter worth $136,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Joseph Eppers acquired 1,402 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $76.82 per share, for a total transaction of $107,701.64. Following the completion of the transaction, the executive vice president owned 12,492 shares in the company, valued at approximately $959,635.44. This trade represents a 12.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Terrence W. Cavanaugh acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average price of $75.72 per share, with a total value of $151,440.00. Following the completion of the transaction, the director owned 25,295 shares of the company’s stock, valued at $1,915,337.40. The trade was a 8.59% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SIGI. BMO Capital Markets upped their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. Morgan Stanley reduced their target price on shares of Selective Insurance Group from $90.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday. Wall Street Zen upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Finally, Piper Sandler reduced their target price on shares of Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.33.

Selective Insurance Group Trading Up 3.5%

Shares of Selective Insurance Group stock opened at $77.63 on Monday. The stock has a market cap of $4.72 billion, a P/E ratio of 12.71 and a beta of 0.48. The stock’s 50 day simple moving average is $86.46 and its 200-day simple moving average is $87.25. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $103.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.24). Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.50%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business posted ($1.10) earnings per share. Analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company 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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, August 15th. Selective Insurance Group’s payout ratio is currently 24.88%.

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.