Selective Insurance Group, Inc. $SIGI Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 36.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,384 shares of the insurance provider’s stock after selling 8,990 shares during the quarter. US Bancorp DE’s holdings in Selective Insurance Group were worth $1,247,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SIGI. AGF Management Ltd. purchased a new stake in shares of Selective Insurance Group in the 3rd quarter valued at approximately $3,448,000. Frontier Capital Management Co. LLC acquired a new position in shares of Selective Insurance Group during the second quarter worth $20,108,000. Arkadios Wealth Advisors purchased a new position in Selective Insurance Group in the second quarter valued at $299,000. Vest Financial LLC acquired a new stake in Selective Insurance Group in the third quarter valued at $1,480,000. Finally, Norges Bank acquired a new stake in Selective Insurance Group in the second quarter valued at $61,437,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Down 1.5%

NASDAQ SIGI opened at $80.88 on Friday. The firm’s fifty day moving average is $84.34 and its two-hundred day moving average is $81.20. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $93.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $4.86 billion, a PE ratio of 10.80 and a beta of 0.23.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.33. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $1.62 earnings per share. Analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $0.43 per share. The ex-dividend date was Friday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 2.1%. Selective Insurance Group’s dividend payout ratio is presently 22.96%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SIGI shares. Morgan Stanley increased their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday, November 17th. Royal Bank Of Canada began coverage on shares of Selective Insurance Group in a research note on Monday, November 24th. They issued an “outperform” rating and a $95.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research report on Tuesday, January 6th. Finally, Piper Sandler upped their target price on shares of Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.00.

Selective Insurance Group Profile

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.