Cwm LLC Buys 297 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Cwm LLC grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,216 shares of the insurance provider’s stock after buying an additional 297 shares during the quarter. Cwm LLC’s holdings in Selective Insurance Group were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Selective Insurance Group during the 2nd quarter valued at about $28,000. GAMMA Investing LLC grew its position in Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after buying an additional 145 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Selective Insurance Group during the second quarter valued at approximately $44,000. Fidelis Capital Partners LLC bought a new position in Selective Insurance Group in the first quarter worth approximately $48,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Selective Insurance Group by 245.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider’s stock worth $134,000 after acquiring an additional 873 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Price Performance

SIGI stock opened at $96.97 on Tuesday. Selective Insurance Group, Inc. has a 52 week low of $81.00 and a 52 week high of $109.58. The firm has a market capitalization of $5.90 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a fifty day simple moving average of $91.39 and a two-hundred day simple moving average of $93.75. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 EPS. Analysts anticipate that Selective Insurance Group, Inc. will post 3.84 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.57%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. Selective Insurance Group’s dividend payout ratio is currently 38.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets upped their price objective on Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Royal Bank of Canada decreased their price objective on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research note on Monday, July 22nd. Keefe, Bruyette & Woods upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. Finally, Piper Sandler reduced their target price on shares of 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.50.

Selective Insurance Group 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.