Selective Insurance Group, Inc. $SIGI Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,230 shares of the insurance provider’s stock after purchasing an additional 1,616 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Selective Insurance Group worth $3,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Selective Insurance Group by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 141,658 shares of the insurance provider’s stock valued at $12,967,000 after acquiring an additional 493 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Selective Insurance Group by 11.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,317 shares of the insurance provider’s stock valued at $761,000 after acquiring an additional 861 shares during the last quarter. SG Americas Securities LLC raised its holdings in Selective Insurance Group by 221.3% in the 1st quarter. SG Americas Securities LLC now owns 7,113 shares of the insurance provider’s stock valued at $651,000 after acquiring an additional 4,899 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Selective Insurance Group by 1.7% in the 1st quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider’s stock valued at $922,000 after acquiring an additional 173 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Selective Insurance Group in the 1st quarter valued at about $225,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analysts Set New Price Targets

SIGI has been the subject of a number of recent research reports. Piper Sandler cut their price objective on shares of Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Keefe, Bruyette & Woods cut their price target on shares of Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating for the company in a report on Monday, July 28th. BMO Capital Markets set a $88.00 price target on shares of Selective Insurance Group and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley downgraded shares of Selective Insurance Group from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $86.00 to $72.00 in a report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $87.33.

Insider Buying and Selling

In other Selective Insurance Group news, Director Thomas A. Mccarthy acquired 2,500 shares of the company’s stock in a transaction on Monday, July 28th. The shares were bought at an average cost of $77.42 per share, for a total transaction of $193,550.00. Following the completion of the purchase, the director owned 18,746 shares in the company, valued at $1,451,315.32. This trade represents a 15.39% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Eppers acquired 1,402 shares of the company’s stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $76.82 per share, for a total transaction of $107,701.64. Following the completion of the purchase, the executive vice president owned 12,492 shares of the company’s stock, valued at $959,635.44. This trade represents a 12.64% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 10,602 shares of company stock valued at $817,440 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $79.01 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $103.56. The stock has a market capitalization of $4.81 billion, a PE ratio of 12.93 and a beta of 0.44. The firm has a 50 day moving average of $80.78 and a two-hundred day moving average of $85.14.

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). The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.50%.During the same period last year, the firm posted ($1.10) earnings per share. On average, research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were paid a $0.38 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. Selective Insurance Group’s payout ratio is currently 24.88%.

About Selective Insurance Group

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.