Arkadios Wealth Advisors Acquires Shares of 3,452 Selective Insurance Group, Inc. $SIGI

Arkadios Wealth Advisors acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,452 shares of the insurance provider’s stock, valued at approximately $299,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Selective Insurance Group by 219.5% in the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock valued at $31,000 after buying an additional 248 shares during the last quarter. Amundi lifted its stake in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after buying an additional 311 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Selective Insurance Group in the first quarter valued at approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Selective Insurance Group by 752.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider’s stock valued at $49,000 after buying an additional 474 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Selective Insurance Group by 58.7% in the first quarter. Signaturefd LLC now owns 673 shares of the insurance provider’s stock valued at $62,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SIGI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. Zacks Research upgraded shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating for the company in a research note on Friday, October 24th. Piper Sandler dropped 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, Morgan Stanley increased their price target on shares of Selective Insurance Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Tuesday, October 7th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $78.75.

Selective Insurance Group Stock Up 2.2%

Selective Insurance Group stock opened at $77.03 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.32. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 11.87 and a beta of 0.39. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $103.56. The stock’s fifty day moving average is $79.46 and its two-hundred day moving average is $83.00.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Selective Insurance Group had a return on equity of 12.96% and a net margin of 7.78%.The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. Analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently disclosed 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 a positive change from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.2%. Selective Insurance Group’s dividend payout ratio (DPR) is 26.50%.

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.