AlphaMark Advisors LLC Takes $334,000 Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

AlphaMark Advisors LLC purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,060 shares of the insurance provider’s stock, valued at approximately $334,000.

A number of other large investors also recently modified their holdings of SIGI. Blue Trust Inc. lifted its stake in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. Rise Advisors LLC bought a new position in Selective Insurance Group during the 1st quarter worth $27,000. Headinvest LLC bought a new position in Selective Insurance Group during the 3rd quarter worth $62,000. Burkett Financial Services LLC bought a new position in Selective Insurance Group during the 4th quarter worth $75,000. Finally, Morton Brown Family Wealth LLC bought a new position in Selective Insurance Group during the 4th quarter worth $82,000. 82.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SIGI. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $103.00 price objective on shares of Selective Insurance Group in a research note on Monday, June 24th. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $104.00 price target on shares of Selective Insurance Group in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $107.20.

Selective Insurance Group Stock Up 0.5 %

Selective Insurance Group stock opened at $94.32 on Tuesday. The company has a market capitalization of $5.73 billion, a PE ratio of 16.66, a PEG ratio of 0.85 and a beta of 0.54. Selective Insurance Group, Inc. has a 12-month low of $89.78 and a 12-month high of $109.58. The firm’s fifty day moving average is $96.03 and its 200 day moving average is $100.32. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.55). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. Selective Insurance Group’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 EPS. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 6.8 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently declared 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 was Tuesday, May 14th. This represents a $1.40 annualized dividend and a yield of 1.48%. Selective Insurance Group’s payout ratio is currently 24.74%.

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.