Selective Insurance Group, Inc. $SIGI Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1,299.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 301,965 shares of the insurance provider’s stock after acquiring an additional 280,395 shares during the quarter. American Century Companies Inc. owned 0.50% of Selective Insurance Group worth $24,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of 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 acquired a new position in Selective Insurance Group in the second quarter worth approximately $61,437,000. Franklin Resources Inc. increased its holdings in shares of Selective Insurance Group by 4,903.4% in the second quarter. Franklin Resources Inc. now owns 347,933 shares of the insurance provider’s stock valued at $30,148,000 after buying an additional 340,979 shares in the last quarter. Tributary Capital Management LLC increased its holdings in shares of Selective Insurance Group by 91.2% in the third quarter. Tributary Capital Management LLC now owns 552,650 shares of the insurance provider’s stock valued at $44,803,000 after buying an additional 263,631 shares in the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Selective Insurance Group during the 2nd quarter valued at $20,108,000. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 1.0%

NASDAQ SIGI opened at $80.08 on Monday. The firm’s 50 day moving average price is $84.26 and its two-hundred day moving average price is $81.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $93.38. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 10.69 and a beta of 0.23.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Thursday, January 29th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.33. The company had revenue of $1.36 billion during 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 company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. Equities analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, February 13th. Selective Insurance Group’s dividend payout ratio is currently 22.96%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SIGI. Morgan Stanley raised their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, November 17th. Keefe, Bruyette & Woods reduced their target price on 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 price target on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada initiated coverage on Selective Insurance Group in a research note on Monday, November 24th. They issued an “outperform” rating and a $95.00 price target on the stock. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.