8,079 Shares in Selective Insurance Group, Inc. $SIGI Purchased by Headlands Technologies LLC

Headlands Technologies LLC acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the second quarter, HoldingsChannel reports. The fund acquired 8,079 shares of the insurance provider’s stock, valued at approximately $784,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC bought a new stake in shares of Selective Insurance Group during the second quarter valued at approximately $468,000. Intech Investment Management LLC increased its holdings in shares of Selective Insurance Group by 138.0% in the fourth quarter. Intech Investment Management LLC now owns 62,686 shares of the insurance provider’s stock valued at $5,245,000 after purchasing an additional 36,351 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Selective Insurance Group by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,359,224 shares of the insurance provider’s stock worth $102,473,000 after purchasing an additional 44,532 shares during the last quarter. UBS Group AG raised its position in Selective Insurance Group by 46.1% in the 4th quarter. UBS Group AG now owns 237,076 shares of the insurance provider’s stock worth $19,836,000 after purchasing an additional 74,757 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Selective Insurance Group by 92.2% during the 1st quarter. Principal Financial Group Inc. now owns 253,223 shares of the insurance provider’s stock worth $19,090,000 after buying an additional 121,487 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SIGI. Royal Bank Of Canada increased their price objective on Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Morgan Stanley boosted their target price on Selective Insurance Group from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Weiss Ratings raised Selective Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. BMO Capital Markets lowered Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price target on the stock. in a research note on Tuesday, July 28th. Finally, Piper Sandler raised their price target on Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $100.33.

Selective Insurance Group Trading Down 0.1%

SIGI opened at $91.21 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 11.32 and a beta of 0.29. The firm has a 50 day simple moving average of $95.10 and a 200 day simple moving average of $87.63. Selective Insurance Group, Inc. has a fifty-two week low of $72.78 and a fifty-two week high of $100.40.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.29. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business posted $1.31 earnings per share. On average, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.43 per share. The ex-dividend date was Monday, August 17th. This represents a $1.72 annualized dividend and a dividend yield of 1.9%. Selective Insurance Group’s payout ratio is presently 21.34%.

Insider Buying and Selling at Selective Insurance Group

In other news, EVP Michael H. Lanza sold 17,100 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total value of $1,608,084.00. Following the transaction, the executive vice president owned 16,565 shares of the company’s stock, valued at $1,557,772.60. This represents a 50.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.

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.