SG Americas Securities LLC Purchases 6,478 Shares of Selective Insurance Group, Inc. $SIGI

SG Americas Securities LLC boosted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 91.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,591 shares of the insurance provider’s stock after acquiring an additional 6,478 shares during the quarter. SG Americas Securities LLC’s holdings in Selective Insurance Group were worth $1,178,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SIGI. Parallel Advisors LLC increased its position in shares of Selective Insurance Group by 219.5% in the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Amundi grew its stake in Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares in the last quarter. Brooklyn Investment Group purchased a new position in Selective Insurance Group in the 1st quarter worth approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Selective Insurance Group by 752.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider’s stock worth $49,000 after buying an additional 474 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Selective Insurance Group by 45.5% during the 2nd quarter. Signaturefd LLC now owns 979 shares of the insurance provider’s stock valued at $85,000 after buying an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 1.3%

NASDAQ:SIGI opened at $77.97 on Friday. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 12.01 and a beta of 0.39. The company has a quick ratio of 0.33, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $79.26 and its 200-day moving average price is $82.18. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 EPS. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.38. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.2%. Selective Insurance Group’s dividend payout ratio is currently 26.50%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SIGI. Zacks Research upgraded Selective Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Piper Sandler decreased their price objective on shares of Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Keefe, Bruyette & Woods decreased their target price on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating for the company in a report on Friday, October 24th. BMO Capital Markets cut Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Reduce” and an average price target of $78.50.

Selective Insurance Group 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.