AlphaQuest LLC Has $401,000 Stock Holdings in Selective Insurance Group, Inc. $SIGI

AlphaQuest LLC reduced its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 63.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,629 shares of the insurance provider’s stock after selling 7,967 shares during the quarter. AlphaQuest LLC’s holdings in Selective Insurance Group were worth $401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SIGI. Frank Rimerman Advisors LLC boosted its stake in shares of Selective Insurance Group by 3.0% in the 1st quarter. Frank Rimerman Advisors LLC now owns 4,728 shares of the insurance provider’s stock valued at $433,000 after purchasing an additional 136 shares during the last quarter. Martingale Asset Management L P boosted its stake in shares of Selective Insurance Group by 0.5% in the 1st quarter. Martingale Asset Management L P now owns 28,140 shares of the insurance provider’s stock valued at $2,576,000 after purchasing an additional 141 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Selective Insurance Group by 16.3% in the 2nd quarter. UMB Bank n.a. now owns 1,079 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 151 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 valued at $922,000 after purchasing an additional 173 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in Selective Insurance Group by 3.9% during the first quarter. Resona Asset Management Co. Ltd. now owns 5,134 shares of the insurance provider’s stock worth $470,000 after acquiring an additional 193 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SIGI shares. Piper Sandler cut 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. Keefe, Bruyette & Woods cut their target price on shares of Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th. Zacks Research raised shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 target price on the stock. in a research note on Tuesday. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $78.75.

Selective Insurance Group Stock Down 1.3%

Selective Insurance Group stock opened at $74.65 on Thursday. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $103.56. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 11.50 and a beta of 0.39. The firm’s fifty day moving average price is $79.73 and its two-hundred day moving average price is $83.47. The company has a current ratio of 0.32, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.43 dividend. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.38. This represents a $1.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, November 14th. Selective Insurance Group’s dividend payout ratio is currently 23.42%.

Insider Activity at Selective Insurance Group

In other news, Director Robert Kelly Doherty bought 1,500 shares of the stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $77.00 per share, for a total transaction of $115,500.00. Following the completion of the acquisition, the director directly owned 27,110 shares in the company, valued at approximately $2,087,470. This trade represents a 5.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate 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.