Goldman Sachs Group Inc. Buys 18,457 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Goldman Sachs Group Inc. boosted its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 505,325 shares of the insurance provider’s stock after purchasing an additional 18,457 shares during the period. Goldman Sachs Group Inc. owned approximately 0.83% of Selective Insurance Group worth $50,270,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SIGI. Blue Trust Inc. boosted its position in Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Headinvest LLC bought a new position in shares of Selective Insurance Group in the 3rd quarter worth approximately $62,000. Burkett Financial Services LLC purchased a new position in shares of Selective Insurance Group in the fourth quarter worth approximately $75,000. Morton Brown Family Wealth LLC bought a new stake in Selective Insurance Group during the fourth quarter valued at approximately $82,000. Finally, SG Americas Securities LLC grew its position in Selective Insurance Group by 16.5% during the fourth quarter. SG Americas Securities LLC now owns 2,001 shares of the insurance provider’s stock valued at $199,000 after buying an additional 283 shares during the period. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Up 0.0 %

Shares of SIGI stock opened at $91.91 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a one year low of $89.78 and a one year high of $109.58. The company’s fifty day moving average price is $97.45 and its 200-day moving average price is $100.88. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 0.82 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 EPS. Sell-side analysts expect that Selective Insurance Group, Inc. will post 6.87 EPS for the current fiscal 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 issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. Selective Insurance Group’s dividend payout ratio is presently 24.74%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SIGI shares. Oppenheimer reiterated an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Piper Sandler reiterated a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. Finally, JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. One research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $107.60.

About Selective Insurance Group

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.