Two Sigma Securities LLC Buys Shares of 9,638 Selective Insurance Group, Inc. $SIGI

Two Sigma Securities LLC acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,638 shares of the insurance provider’s stock, valued at approximately $935,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming grew its holdings in Selective Insurance Group by 17.7% in the 4th quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock valued at $63,000 after buying an additional 113 shares during the period. Oak Associates Ltd. OH grew its holdings in 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 valued at $537,000 after purchasing an additional 125 shares during the period. Merit Financial Group LLC increased its position in Selective Insurance Group by 4.0% during the third quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 129 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Selective Insurance Group by 5.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,518 shares of the insurance provider’s stock valued at $294,000 after acquiring an additional 187 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Selective Insurance Group by 0.5% in the first quarter. Royal Bank of Canada now owns 35,809 shares of the insurance provider’s stock valued at $2,699,000 after acquiring an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets cut shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price target for the company. in a research report on Tuesday, July 28th. Weiss Ratings raised Selective Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Oppenheimer upped their price target on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Royal Bank Of Canada increased their price objective on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Three equities 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.33.

Selective Insurance Group Trading Down 1.3%

Shares of NASDAQ SIGI opened at $91.29 on Tuesday. Selective Insurance Group, Inc. has a 12-month low of $72.78 and a 12-month high of $100.40. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 11.33 and a beta of 0.30. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $95.16 and its 200 day simple moving average is $87.61.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.29. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.During the same period in the prior year, the business earned $1.31 EPS. Equities research analysts expect that Selective Insurance Group, Inc. will post 8.12 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, August 17th. Selective Insurance Group’s dividend payout ratio (DPR) is 21.34%.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, EVP Michael H. Lanza sold 17,100 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 16,565 shares of the company’s stock, valued at $1,557,772.60. The trade was a 50.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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.