2,574 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Acquired by US Asset Management LLC

US Asset Management LLC bought a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,574 shares of the insurance provider’s stock, valued at approximately $256,000.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Selective Insurance Group by 15.3% in the third quarter. SG Americas Securities LLC now owns 1,718 shares of the insurance provider’s stock valued at $177,000 after buying an additional 228 shares in the last quarter. Raymond James & Associates increased its position in shares of Selective Insurance Group by 2.1% in the third quarter. Raymond James & Associates now owns 43,341 shares of the insurance provider’s stock valued at $4,471,000 after buying an additional 898 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Selective Insurance Group by 91.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,587 shares of the insurance provider’s stock valued at $1,195,000 after buying an additional 5,547 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Selective Insurance Group by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 923,764 shares of the insurance provider’s stock valued at $95,305,000 after buying an additional 18,508 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Selective Insurance Group by 19.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,691 shares of the insurance provider’s stock valued at $1,309,000 after buying an additional 2,040 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Down 0.6 %

Shares of NASDAQ SIGI traded down $0.55 during midday trading on Thursday, hitting $98.45. The stock had a trading volume of 370,159 shares, compared to its average volume of 329,742. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 0.77 and a beta of 0.55. Selective Insurance Group, Inc. has a 1-year low of $92.06 and a 1-year high of $109.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average price of $103.00 and a 200 day moving average price of $102.45.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.55). The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, analysts predict that Selective Insurance Group, Inc. will post 7.49 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. Selective Insurance Group’s payout ratio is currently 24.73%.

Insider Activity at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the sale, the chief operating officer now directly owns 10,511 shares in the company, valued at approximately $1,112,904.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SIGI has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Keefe, Bruyette & Woods decreased their price objective on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. Piper Sandler reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. Royal Bank of Canada decreased their price target on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $105.17.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.