5,910 Shares of Selective Insurance Group, Inc. $SIGI Bought by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,910 shares of the insurance provider’s stock, valued at approximately $494,000.

Several other institutional investors have also recently bought and sold shares of the business. Oak Associates Ltd. OH lifted its holdings in shares of Selective Insurance Group by 1.8% in the first quarter. Oak Associates Ltd. OH now owns 7,124 shares of the insurance provider’s stock worth $537,000 after acquiring an additional 125 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Selective Insurance Group by 0.5% in the 1st quarter. Royal Bank of Canada now owns 35,809 shares of the insurance provider’s stock valued at $2,699,000 after purchasing an additional 192 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Selective Insurance Group by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 14,481 shares of the insurance provider’s stock valued at $1,092,000 after purchasing an additional 200 shares in the last quarter. Baron Wealth Management LLC boosted its stake in shares of Selective Insurance Group by 7.5% in the 2nd quarter. Baron Wealth Management LLC now owns 3,722 shares of the insurance provider’s stock valued at $361,000 after purchasing an additional 261 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Selective Insurance Group during the 2nd quarter valued at approximately $26,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SIGI shares. Weiss Ratings lowered shares of Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price objective for the company. in a research note on Tuesday, July 28th. Oppenheimer restated an “outperform” rating and issued a $115.00 target price on shares of Selective Insurance Group in a research report on Tuesday. Piper Sandler decreased their target price on shares of Selective Insurance Group from $105.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, September 28th. Finally, Royal Bank Of Canada upped their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.00.

Insider Buying and Selling

In related news, EVP Michael Lanza sold 17,100 shares of Selective Insurance Group stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the sale, the executive vice president directly owned 16,565 shares in the company, valued at $1,557,772.60. This trade represents a 50.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $89.16 on Friday. The business’s 50-day moving average price is $89.14 and its 200-day moving average price is $89.27. Selective Insurance Group, Inc. has a 12 month low of $72.78 and a 12 month high of $100.40. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 11.06 and a beta of 0.26. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.29. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the business posted $1.31 earnings per share. Equities research analysts forecast that Selective Insurance Group, Inc. will post 8.20 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors 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 yield of 1.9%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 21.34%.

Selective Insurance Group Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. Founded in 1926, the company provides property and casualty insurance through a network of independent agents and operates primarily in the United States.

Selective offers commercial insurance products for businesses, including property, general liability, commercial automobile, workers’ compensation and related coverage. Its personal insurance business provides products such as homeowners, renters and automobile insurance.