Renaissance Technologies LLC Buys 15,200 Shares of Selective Insurance Group, Inc. $SIGI

Renaissance Technologies LLC increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,494 shares of the insurance provider’s stock after buying an additional 15,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Selective Insurance Group were worth $8,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Selective Insurance Group by 56.3% during the 4th quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock worth $339,662,000 after acquiring an additional 1,462,838 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Selective Insurance Group by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,660,758 shares of the insurance provider’s stock valued at $138,976,000 after purchasing an additional 8,580 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Selective Insurance Group by 33.3% during the first quarter. First Trust Advisors LP now owns 1,381,867 shares of the insurance provider’s stock valued at $104,179,000 after purchasing an additional 345,348 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Selective Insurance Group by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,359,224 shares of the insurance provider’s stock valued at $102,473,000 after purchasing an additional 44,532 shares in the last quarter. Finally, Norges Bank purchased a new position in Selective Insurance Group during the fourth quarter worth about $65,625,000. 82.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total value 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. The trade was a 50.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SIGI shares. Oppenheimer increased their price objective on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods boosted their target price on Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Weiss Ratings raised Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Royal Bank Of Canada increased their price target on 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, Piper Sandler boosted their price objective on Selective Insurance Group from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $100.33.

Selective Insurance Group Stock Up 0.7%

Selective Insurance Group stock opened at $95.42 on Tuesday. Selective Insurance Group, Inc. has a twelve month low of $72.78 and a twelve month high of $100.40. The firm has a 50 day moving average price of $93.70 and a 200-day moving average price of $86.34. The company has a market capitalization of $5.68 billion, a P/E ratio of 11.84 and a beta of 0.30. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.29. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. During the same quarter last year, the business posted $1.31 EPS. As a group, equities analysts predict that Selective Insurance Group, Inc. will post 7.98 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 17th. Selective Insurance Group’s dividend payout ratio is 21.34%.

Selective Insurance Group Company 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.