Cwm LLC Boosts Stock Position in Selective Insurance Group, Inc. $SIGI

Cwm LLC raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 99.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,282 shares of the insurance provider’s stock after purchasing an additional 6,638 shares during the quarter. Cwm LLC’s holdings in Selective Insurance Group were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SIGI. AQR Capital Management LLC grew its position in Selective Insurance Group by 174.6% during the second quarter. AQR Capital Management LLC now owns 1,593,645 shares of the insurance provider’s stock valued at $137,340,000 after buying an additional 1,013,371 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Selective Insurance Group by 2.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,150,662 shares of the insurance provider’s stock valued at $99,705,000 after acquiring an additional 22,410 shares during the period. Boston Trust Walden Corp grew its position in shares of Selective Insurance Group by 6.0% during the 2nd quarter. Boston Trust Walden Corp now owns 1,109,922 shares of the insurance provider’s stock valued at $96,175,000 after acquiring an additional 63,255 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Selective Insurance Group by 0.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 897,554 shares of the insurance provider’s stock worth $77,773,000 after purchasing an additional 5,683 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Selective Insurance Group by 40.0% in the 2nd quarter. Bank of America Corp DE now owns 725,980 shares of the insurance provider’s stock worth $62,906,000 after purchasing an additional 207,258 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on SIGI. Morgan Stanley increased their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on Selective Insurance Group from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Zacks Research upgraded Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Keefe, Bruyette & Woods dropped their price objective 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 research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.80.

Selective Insurance Group Stock Up 2.0%

Shares of NASDAQ SIGI opened at $85.15 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.14 billion, a P/E ratio of 13.12 and a beta of 0.24. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $96.49. The business has a 50-day simple moving average of $79.95 and a two-hundred day simple moving average of $80.85.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 earnings per share. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.43 per share. 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 dividend yield of 2.0%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 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.