Selective Insurance Group, Inc. $SIGI Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lowered its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 201,734 shares of the insurance provider’s stock after selling 17,361 shares during the period. Natixis Advisors LLC’s holdings in Selective Insurance Group were worth $16,354,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SIGI. AGF Management Ltd. acquired a new stake in shares of Selective Insurance Group in the third quarter valued at approximately $3,448,000. Frontier Capital Management Co. LLC bought a new stake in Selective Insurance Group during the 2nd quarter valued at $20,108,000. Vest Financial LLC bought a new position in shares of Selective Insurance Group in the third quarter worth $1,480,000. American Century Companies Inc. increased its holdings in shares of Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock valued at $24,480,000 after purchasing an additional 280,395 shares during the period. Finally, Norges Bank bought a new stake in shares of Selective Insurance Group during the second quarter valued at about $61,437,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SIGI shares. Piper Sandler raised their target price on shares of Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Royal Bank Of Canada started coverage on shares of Selective Insurance Group in a report on Monday, November 24th. They issued an “outperform” rating and a $95.00 price objective for the company. Morgan Stanley raised their price objective on shares of Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. Finally, Keefe, Bruyette & Woods dropped 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. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and an average price target of $83.00.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock opened at $76.57 on Friday. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $93.38. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock has a market cap of $4.60 billion, a PE ratio of 10.22 and a beta of 0.23. The company’s 50-day moving average price is $83.70 and its two-hundred day moving average price is $81.20.

Selective Insurance Group (NASDAQ:SIGI) last posted 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 8.74% and a return on equity of 14.23%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. As a group, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, February 13th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 22.96%.

Selective Insurance Group 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.