Universal Beteiligungs und Servicegesellschaft mbH Sells 7,539 Shares of Selective Insurance Group, Inc. $SIGI

Universal Beteiligungs und Servicegesellschaft mbH lowered its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 17.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,845 shares of the insurance provider’s stock after selling 7,539 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Selective Insurance Group worth $2,825,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SIGI. Frontier Capital Management Co. LLC acquired a new position in shares of Selective Insurance Group in the second quarter valued at approximately $20,108,000. Arkadios Wealth Advisors acquired a new position in Selective Insurance Group in the 2nd quarter valued at approximately $299,000. Vest Financial LLC bought a new position in shares of Selective Insurance Group during the third quarter valued at $1,480,000. Norges Bank acquired a new position in shares of Selective Insurance Group during the second quarter worth $61,437,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Selective Insurance Group in the second quarter worth $103,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SIGI. Morgan Stanley raised their target price on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, November 17th. Royal Bank Of Canada initiated coverage on Selective Insurance Group in a research report on Monday, November 24th. They set an “outperform” rating and a $95.00 price objective for the company. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Keefe, Bruyette & Woods reduced their target price on 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. Finally, Piper Sandler raised their price target on shares of Selective Insurance Group from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $81.60.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $84.08 on Friday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 12.96 and a beta of 0.24. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $93.38. The stock’s 50 day moving average price is $81.91 and its two-hundred day moving average price is $80.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.36 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. Selective Insurance Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. On average, equities analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 2.0%. Selective Insurance Group’s dividend payout ratio is currently 26.50%.

About Selective Insurance Group

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.