Assenagon Asset Management S.A. Buys Shares of 117,196 Selective Insurance Group, Inc. $SIGI

Assenagon Asset Management S.A. purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 117,196 shares of the insurance provider’s stock, valued at approximately $9,501,000. Assenagon Asset Management S.A. owned approximately 0.19% of Selective Insurance Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in Selective Insurance Group by 219.5% during the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Amundi increased 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 buying an additional 311 shares during the last quarter. Brooklyn Investment Group bought a new stake in Selective Insurance Group during the 1st quarter worth about $38,000. EverSource Wealth Advisors LLC boosted its stake in shares of Selective Insurance Group by 415.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock worth $73,000 after buying an additional 682 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Selective Insurance Group by 45.5% in the 2nd quarter. Signaturefd LLC now owns 979 shares of the insurance provider’s stock valued at $85,000 after acquiring an additional 306 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on Selective Insurance Group in a report on Monday, November 24th. They set an “outperform” rating and a $95.00 target price on the stock. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. Finally, Keefe, Bruyette & Woods lowered 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 report on Friday, October 24th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average target price of $81.80.

Selective Insurance Group Stock Up 0.0%

SIGI stock opened at $84.53 on Friday. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $96.49. The business’s 50 day simple moving average is $79.18 and its 200 day simple moving average is $80.99. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5.11 billion, a PE ratio of 13.02 and a beta of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, topping 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 $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a $0.43 dividend. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.0%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 26.50%.

Selective Insurance Group Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.