UMB Bank n.a. Has $93,000 Holdings in Selective Insurance Group, Inc. $SIGI

UMB Bank n.a. increased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 16.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,079 shares of the insurance provider’s stock after acquiring an additional 151 shares during the quarter. UMB Bank n.a.’s holdings in Selective Insurance Group were worth $93,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Selective Insurance Group by 0.3% in the first quarter. Principal Financial Group Inc. now owns 141,658 shares of the insurance provider’s stock worth $12,967,000 after purchasing an additional 493 shares during the period. Wealth Enhancement Advisory Services LLC grew 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 buying an additional 861 shares during the last quarter. SG Americas Securities LLC increased its position 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 worth $651,000 after buying an additional 4,899 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Selective Insurance Group by 1.7% during the first quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider’s stock worth $922,000 after buying an additional 173 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of Selective Insurance Group during the first quarter worth approximately $1,007,000. 82.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SIGI has been the topic of several research analyst reports. Morgan Stanley downgraded shares of Selective Insurance Group from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $86.00 to $72.00 in a research note on Tuesday, August 5th. 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 report on Tuesday, August 5th. Keefe, Bruyette & Woods cut their price objective on shares of Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating for the company in a research report on Monday, July 28th. 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 note on Friday, July 25th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Selective Insurance Group has a consensus rating of “Reduce” and an average target price of $87.33.

Insiders Place Their Bets

In other news, Director Terrence W. Cavanaugh bought 2,000 shares of Selective Insurance Group stock in a transaction dated Friday, July 25th. The shares were bought at an average price of $75.72 per share, for a total transaction of $151,440.00. Following the purchase, the director owned 25,295 shares of the company’s stock, valued at approximately $1,915,337.40. This trade represents a 8.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John J. Marchioni bought 3,200 shares of the stock in a transaction dated Monday, July 28th. The stock was purchased at an average cost of $77.89 per share, for a total transaction of $249,248.00. Following the acquisition, the chief executive officer owned 139,775 shares in the company, valued at $10,887,074.75. The trade was a 2.34% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 10,602 shares of company stock worth $817,440 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Selective Insurance Group Price Performance

NASDAQ:SIGI opened at $78.83 on Thursday. 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 company has a 50-day moving average of $79.41 and a 200-day moving average of $84.73. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $103.56. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 12.90 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.24). The business had revenue of $1.29 billion during the quarter, compared to analyst estimates 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 company earned ($1.10) EPS. As a group, equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 15th. Selective Insurance Group’s dividend payout ratio (DPR) is 24.88%.

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.