GSA Capital Partners LLP Has $1.46 Million Stock Position in Selective Insurance Group, Inc. $SIGI

GSA Capital Partners LLP increased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 76.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,020 shares of the insurance provider’s stock after acquiring an additional 7,800 shares during the quarter. GSA Capital Partners LLP’s holdings in Selective Insurance Group were worth $1,461,000 as of its most recent SEC filing.

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

Selective Insurance Group Stock Up 0.1%

SIGI stock opened at $86.54 on Wednesday. The firm has a market cap of $5.20 billion, a PE ratio of 11.55 and a beta of 0.23. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $93.38. The company has a fifty day simple moving average of $84.32 and a 200 day simple moving average of $80.78. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

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

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 2.0%. Selective Insurance Group’s dividend payout ratio is presently 22.96%.

Analysts Set New Price Targets

SIGI has been the subject of a number of research analyst reports. Piper Sandler increased their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Royal Bank Of Canada initiated coverage on shares of Selective Insurance Group in a research report on Monday, November 24th. They issued an “outperform” rating and a $95.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a report on Tuesday, January 6th. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target on the stock. in a research note on Tuesday, October 28th. Finally, Morgan Stanley lifted their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, November 17th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.00.

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.