Strs Ohio downgraded its position in shares of Selective Insurance Group, Inc. (NASDAQ: SIGI – Get Rating) increased 37.6% in the fourth quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The company owned 41,300 shares of the insurance company’s stock after selling 24,900 shares during the quarter. Strs Ohio owns 0.07% of Selective Insurance Group valued at $3,659,000 as of its most recent filing with the SEC.
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A number of institutional investors and hedge funds have also recently modified their holdings in SIGI. BlackRock Inc increased its stake in Selective Insurance Group shares by 1.7% during the third quarter. BlackRock Inc. owns Now 7,313,431 shares of the insurance provider’s stock valued at $595,312,000 after purchasing an additional 123,349 shares during the last quarter. Vanguard Group Inc. Its position in shares of Selective Insurance Group fell 1.3% in the third quarter. Vanguard Group Inc. Now 5,888,257 shares of the insurance provider’s stock valued at $479,304,000 after purchasing an additional 77,012 shares during the period. Macquarie Group Ltd. has increased. Its stake in Selective Insurance Group shares increased by 3.2% during the second quarter. Macquarie Group Ltd. owns Now 2,752,581 shares of the insurance provider’s stock valued at $239,309,000 after purchasing an additional 84,594 shares last quarter. State Street Corp increased its position in Selective Insurance Group shares by 0.6% during the third quarter. State Street Corp. now owns 2,066,995 shares of the insurance company’s stock worth $168,253,000 after purchasing an additional 13,308 shares during the last quarter. Finally, Alliancebernstein LP increased its stake in Selective Insurance Group by 2.8% in the third quarter. Alliancebernstein LP now owns 1,864,816 shares of the insurance provider’s stock valued at $151,796,000 after purchasing an additional 51,488 shares last quarter. Institutional investors and hedge funds own 83.85% of the company’s shares.
Wall Street analyst forecasts for growth
SIGI has been the subject of a number of analyst reports. BMO Capital Markets revealed Selective Insurance Group coverage in a research report on Thursday, January 19th. They issued a “Market Perform” rating and a price target of $90.00 for the company. Royal Bank of Canada raised the target price on Selective Insurance Group from $90.00 to $96.00 and gave the company a “segment performer” rating in a report released on Monday, February 6th. Keefe, Bruyette & Woods raised selective insurance group stock target from $105.00 to $107.00 and gave the stock a “market perform” rating in a research report on Monday, February 14th. Piper Sandler raised the price target on Selective Insurance Group from $104.00 to $107.00 and gave the company a “neutral” rating in a report on Tuesday, April 4th. Finally, StockNews.com began covering shares of Selective Insurance Group in a research note on Thursday, March 16th. They assigned a “hold” rating to the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.17.
Buying and selling Insiders in Selective Insurance Group
In other news, director John Burvill sold 20,000 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $100.17, for a total value of $2,003,400.00. After completing the sale, the manager now owns 46,304 shares in the company valued at approximately $4,638,271.68. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through this hyperlink. In other Selective Insurance Group news, director John Burvill sold 20,000 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $100.17, for a total value of $2,003,400.00. After the transaction is completed, the manager now directly owns 46,304 shares of the company’s stock, valued at $4,638,271.68. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, EVP Vincent M. Senia sold 7,000 shares of stock in a transaction on Friday, February 10th. The shares were sold at an average price of $99.79, for a total value of $698,530.00. After the sale, the executive vice president now owns 12,984 shares in the company, valued at approximately $1,295,673.36. Disclosure of this sale can be found here. 2.00% of the shares are held by insiders of the company.
Selective Insurance Group stocks rose 1.1%.
SIGI stock opened at $96.05 on Monday. The stock has a market capitalization of $5.81 billion, a P/E ratio of 27.13, a P/E ratio of 0.77 and a beta of 0.63. The company has a trading ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.22. Register Selective Insurance Group, Inc. The twelve-month low is at $66.81 and the twelve-month high is $103.61. The company’s 50-day moving average is at $97.15 and its 200-day moving average is at $92.90.
Selective Insurance Group (NASDAQ: SIGI – Get Rating) last published its earnings results on Friday, February 3rd. The insurer reported $1.46 earnings per share for the quarter, hitting analyst expectations of $1.46. Selective Insurance Group had a return on equity of 13.15% and a net margin of 6.25%. The company had revenue of $952.20 million for the quarter, compared to analyst expectations of $965.14 million. During the same quarter in the previous year, the company had earnings of $1.56 per share. Research analysts expect Selective Insurance Group, Inc. 6.57 earnings per share for the current fiscal year.
Selective Insurance Group declares a dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th received a cash dividend of $0.30. This represents an annual yield of $1.20 and a return of 1.25%. The date of exclusion from this dividend was Tuesday, February 14th. Selective Insurance Group’s (DPR) dividend payout ratio is currently 33.90%.
Selective insurance group profile
Selective Insurance Group, Inc. is a New Jersey-based insurance holding company engaged in the provision of property and casualty insurance products. It operates through the following segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The Standard Commercial Lines segment provides insurance products and services to commercial clients, such as nonprofit organizations and local government agencies.
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