Selective Insurance Group, Inc. $SIGI Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 13.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,854 shares of the insurance provider’s stock after acquiring an additional 3,377 shares during the period. Intech Investment Management LLC’s holdings in Selective Insurance Group were worth $2,641,000 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. Olde Wealth Management LLC acquired a new stake in Selective Insurance Group in the 1st quarter valued at about $28,000. Amundi grew its stake in Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Selective Insurance Group during the 1st quarter worth about $38,000. Toth Financial Advisory Corp acquired a new stake in shares of Selective Insurance Group during the 1st quarter worth about $41,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Selective Insurance Group by 752.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 474 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Selective Insurance Group

In other news, EVP Joseph Eppers acquired 1,402 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were bought 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 directly owned 12,492 shares of the company’s stock, valued at approximately $959,635.44. This trade represents a 12.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John J. Marchioni acquired 3,200 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $77.89 per share, for a total transaction of $249,248.00. Following the purchase, the chief executive officer directly owned 139,775 shares of the company’s stock, valued at approximately $10,887,074.75. This trade represents a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 10,602 shares of company stock valued at $817,440. 1.00% of the stock is currently owned by corporate insiders.

Selective Insurance Group Trading Down 0.9%

NASDAQ SIGI opened at $79.01 on Monday. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $103.56. The company’s 50 day moving average price is $80.78 and its 200 day moving average price is $85.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.93 and a beta of 0.44.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.24). Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted ($1.10) EPS. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Selective Insurance Group’s dividend payout ratio (DPR) 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.