295 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Purchased by Quest Partners LLC

Quest Partners LLC purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 295 shares of the insurance provider’s stock, valued at approximately $28,000.

Several other large investors also recently made changes to their positions in SIGI. Wellington Management Group LLP raised its position in shares of Selective Insurance Group by 188.2% during the 4th quarter. Wellington Management Group LLP now owns 1,450,417 shares of the insurance provider’s stock worth $144,287,000 after buying an additional 947,147 shares in the last quarter. Norges Bank acquired a new position in Selective Insurance Group in the fourth quarter worth approximately $67,290,000. Westfield Capital Management Co. LP acquired a new position in Selective Insurance Group in the first quarter worth approximately $55,468,000. Vanguard Group Inc. lifted its position in shares of Selective Insurance Group by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock valued at $717,735,000 after acquiring an additional 367,987 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Selective Insurance Group by 2,195.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 257,273 shares of the insurance provider’s stock valued at $25,594,000 after acquiring an additional 246,063 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SIGI. BMO Capital Markets lifted their target price on Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Royal Bank of Canada reduced their price target on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research report on Monday, July 22nd. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $104.00 to $99.00 in a research note on Monday, July 22nd. Bank of America cut their target price on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research note on Thursday, July 11th. Finally, Piper Sandler reduced their target price on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.67.

Selective Insurance Group Stock Down 1.8 %

Selective Insurance Group stock opened at $90.24 on Friday. The firm’s 50 day moving average price is $89.57 and its two-hundred day moving average price is $95.53. The firm has a market cap of $5.49 billion, a PE ratio of 15.94, a P/E/G ratio of 1.52 and a beta of 0.56. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($2.59). Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, research analysts predict that Selective Insurance Group, Inc. will post 3.84 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.55%. Selective Insurance Group’s dividend payout ratio is 24.74%.

Insider Activity at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni acquired 2,400 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were purchased at an average price of $83.56 per share, with a total value of $200,544.00. Following the completion of the transaction, the chief executive officer now owns 136,397 shares in the company, valued at $11,397,333.32. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Selective Insurance Group news, CEO John J. Marchioni acquired 2,400 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average cost of $83.56 per share, for a total transaction of $200,544.00. Following the completion of the acquisition, the chief executive officer now owns 136,397 shares of the company’s stock, valued at approximately $11,397,333.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Terrence W. Cavanaugh bought 2,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $85.85 per share, for a total transaction of $171,700.00. Following the completion of the acquisition, the director now owns 20,651 shares of the company’s stock, valued at $1,772,888.35. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.

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.