Signaturefd LLC Grows Position in Selective Insurance Group, Inc. $SIGI

Signaturefd LLC grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 45.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 979 shares of the insurance provider’s stock after acquiring an additional 306 shares during the quarter. Signaturefd LLC’s holdings in Selective Insurance Group were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Selective Insurance Group by 0.3% during the first quarter. Principal Financial Group Inc. now owns 141,658 shares of the insurance provider’s stock valued at $12,967,000 after purchasing an additional 493 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Selective Insurance Group by 11.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,317 shares of the insurance provider’s stock worth $761,000 after buying an additional 861 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of 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 last quarter. Hsbc Holdings PLC boosted its stake in shares of Selective Insurance Group by 1.7% in the 1st 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. bought a new position in shares of Selective Insurance Group in the first quarter valued at approximately $1,007,000. Institutional investors own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SIGI shares. Keefe, Bruyette & Woods dropped their price target on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a report on Monday, July 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Saturday, September 27th. Morgan Stanley lowered shares of Selective Insurance Group from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $86.00 to $72.00 in a research report on Tuesday, August 5th. BMO Capital Markets set a $88.00 price objective on shares of Selective Insurance Group and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Piper Sandler dropped their target price 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. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $87.33.

Selective Insurance Group Trading Up 1.6%

SIGI stock opened at $83.51 on Friday. The company has a market capitalization of $5.08 billion, a PE ratio of 13.67 and a beta of 0.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. 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 $78.71 and its two-hundred day moving average price is $84.44.

Selective Insurance Group (NASDAQ:SIGI) last released its 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). The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same period in the prior year, the business posted ($1.10) EPS. As a group, analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a $0.38 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.8%. Selective Insurance Group’s payout ratio is currently 24.88%.

Insider Buying and Selling

In related news, Director Thomas A. Mccarthy acquired 2,500 shares of the stock in a transaction on Monday, July 28th. The stock was purchased at an average price of $77.42 per share, for a total transaction of $193,550.00. Following the completion of the transaction, the director owned 18,746 shares of the company’s stock, valued at $1,451,315.32. This trade represents a 15.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Kelly Doherty acquired 1,500 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $77.00 per share, with a total value of $115,500.00. Following the purchase, the director owned 27,110 shares of the company’s stock, valued at approximately $2,087,470. This trade represents a 5.86% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,602 shares of company stock worth $817,440 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

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.