Algert Global LLC Purchases 19,910 Shares of Selective Insurance Group, Inc. $SIGI

Algert Global LLC raised its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 11.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,291 shares of the insurance provider’s stock after purchasing an additional 19,910 shares during the period. Algert Global LLC owned approximately 0.33% of Selective Insurance Group worth $16,075,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new position in shares of Selective Insurance Group during the 3rd quarter valued at about $29,000. Amundi boosted its stake in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares in the last quarter. Rothschild Investment LLC boosted its stake in Selective Insurance Group by 680.0% in the third quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock worth $44,000 after buying an additional 476 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Selective Insurance Group by 415.9% during the second quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock valued at $73,000 after acquiring an additional 682 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Selective Insurance Group by 362.1% during the third quarter. Versant Capital Management Inc now owns 901 shares of the insurance provider’s stock valued at $73,000 after acquiring an additional 706 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a report on Tuesday, January 6th. Piper Sandler increased their target price on shares of Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Morgan Stanley lifted their target price on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, November 17th. Finally, Royal Bank Of Canada started coverage on shares of Selective Insurance Group in a research note on Monday, November 24th. They issued an “outperform” rating and a $95.00 price target for the company. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.00.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $76.41 on Friday. The firm has a market cap of $4.59 billion, a PE ratio of 10.20 and a beta of 0.23. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $93.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The business has a 50 day moving average price of $83.55 and a 200-day moving average price of $81.22.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.24 by $0.33. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 earnings per share. Equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, February 13th. Selective Insurance Group’s dividend payout ratio is currently 22.96%.

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.