Blue Trust Inc. Grows Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Blue Trust Inc. raised its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3,538.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,620 shares of the insurance provider’s stock after acquiring an additional 2,548 shares during the quarter. Blue Trust Inc.’s holdings in Selective Insurance Group were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Apollon Wealth Management LLC raised its stake in shares of Selective Insurance Group by 2.0% during the 4th quarter. Apollon Wealth Management LLC now owns 5,628 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 109 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Selective Insurance Group by 0.5% in the fourth quarter. Teacher Retirement System of Texas now owns 27,092 shares of the insurance provider’s stock worth $2,695,000 after buying an additional 123 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Selective Insurance Group by 0.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 32,436 shares of the insurance provider’s stock valued at $3,227,000 after acquiring an additional 143 shares during the period. GAMMA Investing LLC grew its stake 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 acquiring an additional 145 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Selective Insurance Group by 6.7% during the 4th quarter. D.A. Davidson & CO. now owns 3,126 shares of the insurance provider’s stock worth $311,000 after acquiring an additional 196 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

SIGI has been the subject of several analyst reports. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. Piper Sandler decreased their target price on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Bank of America dropped their price target on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating for the company in a research report on Thursday, July 11th. Finally, BMO Capital Markets upped their price objective on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Selective Insurance Group has a consensus rating of “Hold” and an average price target of $98.67.

Insider Buying and Selling

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

Selective Insurance Group Trading Up 0.2 %

Shares of SIGI stock opened at $88.91 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.41 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.42 and a beta of 0.54. The business has a 50-day moving average price of $90.83 and a two-hundred day moving average price of $97.54. Selective Insurance Group, Inc. has a 12-month low of $81.00 and a 12-month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Equities analysts anticipate that Selective Insurance Group, Inc. will post 3.85 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, August 15th. Selective Insurance Group’s dividend payout ratio is currently 24.74%.

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.