William Blair Investment Management LLC Sells 37,394 Shares of Selective Insurance Group, Inc. $SIGI

William Blair Investment Management LLC decreased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 357,467 shares of the insurance provider’s stock after selling 37,394 shares during the quarter. William Blair Investment Management LLC’s holdings in Selective Insurance Group were worth $29,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. True Wealth Design LLC raised its position in shares of Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 129 shares during the period. Merit Financial Group LLC raised its position in shares of Selective Insurance Group by 4.0% in the third quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 129 shares during the period. Belpointe Asset Management LLC raised its position in shares of Selective Insurance Group by 1.8% in the third quarter. Belpointe Asset Management LLC now owns 8,559 shares of the insurance provider’s stock valued at $694,000 after purchasing an additional 149 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Selective Insurance Group by 38.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 154 shares during the period. Finally, First Horizon Corp raised its position in shares of Selective Insurance Group by 52.8% in the fourth quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 190 shares during the period. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $90.70 on Monday. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $91.63. The firm’s fifty day simple moving average is $80.96 and its 200 day simple moving average is $81.76. The firm has a market capitalization of $5.43 billion, a P/E ratio of 12.41 and a beta of 0.32. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm posted $1.76 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.81 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. Selective Insurance Group’s payout ratio is 23.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Oppenheimer lifted their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research report on Monday, March 23rd. Finally, BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $84.00 to $97.00 in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.50.

Selective Insurance Group Company 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.