UBS Group AG Grows Stake in Selective Insurance Group, Inc. $SIGI

UBS Group AG increased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 46.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 237,076 shares of the insurance provider’s stock after acquiring an additional 74,757 shares during the period. UBS Group AG’s holdings in Selective Insurance Group were worth $19,836,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. First Horizon Corp purchased a new position in shares of Selective Insurance Group in the third quarter valued at $29,000. Amundi boosted its position in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares in the last quarter. True Wealth Design LLC grew its stake in Selective Insurance Group by 45.9% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Rothschild Investment LLC increased its holdings in Selective Insurance Group by 680.0% during the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 476 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Selective Insurance Group by 38.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SIGI shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Selective Insurance Group in a report on Monday, March 23rd. Piper Sandler lifted their price objective on Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped their target price on Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $84.00 to $97.00 in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and an average target price of $87.60.

Selective Insurance Group Stock Performance

Shares of NASDAQ SIGI opened at $84.81 on Tuesday. The company has a market cap of $5.08 billion, a PE ratio of 11.60 and a beta of 0.32. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $91.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. The company has a 50-day simple moving average of $79.63 and a 200-day simple moving average of $81.01.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company posted $1.76 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Selective Insurance Group, Inc. will post 7.76 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 15th. Selective Insurance Group’s dividend payout ratio is currently 23.53%.

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.