Selective Insurance Group, Inc. $SIGI Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 158,772 shares of the insurance provider’s stock after acquiring an additional 2,470 shares during the period. Mutual of America Capital Management LLC’s holdings in Selective Insurance Group were worth $13,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Selective Insurance Group by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 6,756,225 shares of the insurance provider’s stock valued at $618,465,000 after acquiring an additional 135,324 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Selective Insurance Group by 2.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,150,662 shares of the insurance provider’s stock worth $99,705,000 after purchasing an additional 22,410 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Selective Insurance Group by 6.0% in the second quarter. Boston Trust Walden Corp now owns 1,109,922 shares of the insurance provider’s stock valued at $96,175,000 after purchasing an additional 63,255 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Selective Insurance Group by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 891,871 shares of the insurance provider’s stock valued at $81,642,000 after purchasing an additional 7,641 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of Selective Insurance Group by 8.4% in the first quarter. Raymond James Financial Inc. now owns 805,704 shares of the insurance provider’s stock valued at $73,755,000 after purchasing an additional 62,503 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $81.15 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $79.56 and a 200-day simple moving average of $83.89. The stock has a market cap of $4.94 billion, a P/E ratio of 13.28 and a beta of 0.39. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.24). The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same quarter in the prior year, the business earned ($1.10) earnings per share. Equities analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, August 15th. This represents a $1.52 annualized dividend and a yield of 1.9%. Selective Insurance Group’s payout ratio is presently 24.88%.

Insider Transactions at Selective Insurance Group

In related news, Director Terrence W. Cavanaugh bought 2,000 shares of the stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $75.72 per share, for a total transaction of $151,440.00. Following the acquisition, the director owned 25,295 shares in the company, valued at approximately $1,915,337.40. This represents a 8.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Eppers bought 1,402 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $76.82 per share, for a total transaction of $107,701.64. Following the completion of the transaction, the executive vice president directly owned 12,492 shares in the company, valued at approximately $959,635.44. The trade was a 12.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 10,602 shares of company stock valued at $817,440 over the last three months. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Piper Sandler reduced their price objective on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating for the company in a research note on Monday, July 28th. Finally, BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group has a consensus rating of “Reduce” and a consensus price target of $87.50.

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.