Quadrature Capital Ltd Makes New Investment in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Quadrature Capital Ltd bought a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,467 shares of the insurance provider’s stock, valued at approximately $1,041,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Selective Insurance Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 6,206,485 shares of the insurance provider’s stock valued at $617,421,000 after purchasing an additional 41,276 shares during the period. Wellington Management Group LLP boosted its stake in shares of Selective Insurance Group by 188.2% during the fourth quarter. Wellington Management Group LLP now owns 1,450,417 shares of the insurance provider’s stock valued at $144,287,000 after purchasing an additional 947,147 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Selective Insurance Group by 14.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,190,389 shares of the insurance provider’s stock valued at $118,420,000 after purchasing an additional 149,901 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Selective Insurance Group by 1.8% during the fourth quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock valued at $97,791,000 after purchasing an additional 17,800 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Selective Insurance Group by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 811,919 shares of the insurance provider’s stock valued at $80,770,000 after purchasing an additional 17,657 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

SIGI opened at $92.82 on Friday. The stock has a fifty day simple moving average of $97.26 and a two-hundred day simple moving average of $100.82. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. Selective Insurance Group, Inc. has a 12-month low of $89.78 and a 12-month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data 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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. Selective Insurance Group’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 EPS. Research analysts predict that Selective Insurance Group, Inc. will post 6.84 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders 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 1.51%. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

Analyst Ratings Changes

A number of equities analysts recently commented on SIGI shares. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Monday, April 15th. Finally, Piper Sandler restated a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and an average target price of $107.60.

Selective Insurance Group Company Profile

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.