Squarepoint Ops LLC Sells 14,175 Shares of Selective Insurance Group, Inc. $SIGI

Squarepoint Ops LLC trimmed its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 47.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,418 shares of the insurance provider’s stock after selling 14,175 shares during the quarter. Squarepoint Ops LLC’s holdings in Selective Insurance Group were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SIGI. Martingale Asset Management L P boosted its stake in 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 buying an additional 141 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Selective Insurance Group by 16.3% during the second quarter. UMB Bank n.a. now owns 1,079 shares of the insurance provider’s stock valued at $93,000 after acquiring an additional 151 shares during the period. 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 in the last quarter. Pullen Investment Management LLC grew its holdings in shares of Selective Insurance Group by 0.9% in the 2nd quarter. Pullen Investment Management LLC now owns 22,748 shares of the insurance provider’s stock worth $1,971,000 after purchasing an additional 200 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Selective Insurance Group by 219.5% during the 2nd quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 248 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Shares of 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 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’s 50 day moving average is $79.18 and its 200-day moving average is $80.99. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 13.02 and a beta of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $1.40 EPS. Selective Insurance Group’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.0%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 14th. Selective Insurance Group’s payout ratio is currently 26.50%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SIGI shares. Morgan Stanley boosted their price target on shares of Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, November 17th. BMO Capital Markets cut shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 target price for the company. in a research note on Tuesday, October 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. Zacks Research upgraded Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods cut their price objective on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating for the company in a research report on Friday, October 24th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.80.

About Selective Insurance Group

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.