SG Americas Securities LLC Increases Holdings in Selective Insurance Group, Inc. $SIGI

SG Americas Securities LLC grew its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 381.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,347 shares of the insurance provider’s stock after acquiring an additional 22,456 shares during the quarter. SG Americas Securities LLC’s holdings in Selective Insurance Group were worth $2,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in Selective Insurance Group by 174.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,593,645 shares of the insurance provider’s stock worth $137,340,000 after purchasing an additional 1,013,371 shares in the last quarter. Norges Bank bought a new position in shares of Selective Insurance Group in the second quarter worth approximately $61,437,000. American Century Companies Inc. grew its holdings in shares of Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock valued at $24,480,000 after buying an additional 280,395 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Selective Insurance Group by 657.3% during the third quarter. First Trust Advisors LP now owns 305,629 shares of the insurance provider’s stock valued at $24,777,000 after buying an additional 265,270 shares during the last quarter. Finally, Tributary Capital Management LLC increased its position in shares of Selective Insurance Group by 91.2% during the third quarter. Tributary Capital Management LLC now owns 552,650 shares of the insurance provider’s stock valued at $44,803,000 after acquiring an additional 263,631 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI opened at $76.92 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.60 billion, a PE ratio of 10.27 and a beta of 0.26. The firm’s 50 day moving average price is $81.25 and its 200-day moving average price is $80.85. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $93.38.

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

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a $0.43 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.72 annualized dividend and a yield of 2.2%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.96%.

Analyst Upgrades and Downgrades

SIGI has been the topic of several recent analyst reports. Piper Sandler increased their target price on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Selective Insurance Group in a research report on Monday, March 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.00.

Selective Insurance Group Company 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.