Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of Selective Insurance Group by 188.2% in the fourth quarter. Wellington Management Group LLP now owns 1,450,417 shares of the insurance provider’s stock worth $144,287,000 after buying an additional 947,147 shares during the last quarter. Norges Bank acquired a new position in Selective Insurance Group during the 4th quarter worth $67,290,000. Public Employees Retirement Association of Colorado boosted its holdings in Selective Insurance Group by 2,195.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 257,273 shares of the insurance provider’s stock valued at $25,594,000 after acquiring an additional 246,063 shares during the period. Victory Capital Management Inc. grew its position in shares of Selective Insurance Group by 14.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,190,389 shares of the insurance provider’s stock valued at $118,420,000 after purchasing an additional 149,901 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Selective Insurance Group by 27.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 578,501 shares of the insurance provider’s stock worth $63,155,000 after purchasing an additional 124,860 shares during the period. Institutional investors own 82.88% of the company’s stock.
Selective Insurance Group Stock Performance
SIGI opened at $91.58 on Friday. The stock’s 50 day simple moving average is $95.23 and its 200-day simple moving average is $100.08. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The stock has a market cap of $5.57 billion, a PE ratio of 16.18, a P/E/G ratio of 0.83 and a beta of 0.54. Selective Insurance Group, Inc. has a 1 year low of $89.78 and a 1 year high of $109.58.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Sell-side analysts forecast that Selective Insurance Group, Inc. will post 6.8 EPS for the current year.
Selective Insurance Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.53%. The ex-dividend date was Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.74%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a research note on Friday, April 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $103.00 price objective on shares of Selective Insurance Group in a research report on Monday, June 24th. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $104.00 price target on shares of Selective Insurance Group in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.20.
Read Our Latest Stock Report on SIGI
Selective Insurance Group Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured’s real property, personal property, and/or earnings due to the property’s loss; and flood insurance products.
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