Selective Insurance Group, Inc. $SIGI Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 28.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 47,439 shares of the insurance provider’s stock after purchasing an additional 10,387 shares during the period. Quantbot Technologies LP owned 0.08% of Selective Insurance Group worth $3,846,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. First Horizon Corp bought a new stake in Selective Insurance Group in the third quarter valued at about $29,000. Amundi lifted its holdings in Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares during the last quarter. Rothschild Investment LLC lifted 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 worth $44,000 after buying an additional 476 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Selective Insurance Group by 362.1% in the 3rd quarter. Versant Capital Management Inc now owns 901 shares of the insurance provider’s stock worth $73,000 after acquiring an additional 706 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Selective Insurance Group by 415.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock valued at $73,000 after acquiring an additional 682 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 0.3%

Selective Insurance Group stock opened at $84.04 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $93.38. The company has a 50-day simple moving average of $84.51 and a 200-day simple moving average of $81.10. The firm has a market capitalization of $5.05 billion, a P/E ratio of 11.22 and a beta of 0.23.

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

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 13th. Selective Insurance Group’s dividend payout ratio is 22.96%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank Of Canada began coverage on Selective Insurance Group in a research note on Monday, November 24th. They set an “outperform” rating and a $95.00 price objective on the stock. Morgan Stanley increased their target price on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, November 17th. Piper Sandler lifted their price target 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. Finally, Keefe, Bruyette & Woods lowered 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. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average target price 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.