Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.6% during the second quarter, HoldingsChannel reports. The firm owned 100,398 shares of the insurance provider’s stock after purchasing an additional 560 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Selective Insurance Group were worth $9,420,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Selective Insurance Group by 188.2% in the fourth 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 during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Selective Insurance Group in the first quarter worth $55,468,000. Vanguard Group Inc. increased its stake in shares of Selective Insurance Group by 5.9% in the first quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock worth $717,735,000 after buying an additional 367,987 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Selective Insurance Group by 2,195.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 257,273 shares of the insurance provider’s stock worth $25,594,000 after buying an additional 246,063 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Selective Insurance Group by 27.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 578,501 shares of the insurance provider’s stock worth $63,155,000 after buying an additional 124,860 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Performance

SIGI stock opened at $91.70 on Friday. The company has a market capitalization of $5.57 billion, a P/E ratio of 16.20, a PEG ratio of 1.50 and a beta of 0.56. The company has a 50-day simple moving average of $89.07 and a 200 day simple moving average of $95.07. Selective Insurance Group, Inc. has a fifty-two week low of $81.00 and a fifty-two week high of $109.58. 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 posted its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($2.59). The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. During the same period in the previous year, the company earned $0.99 EPS. Sell-side analysts predict that Selective Insurance Group, Inc. will post 3.84 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, August 15th. Selective Insurance Group’s payout ratio is 24.73%.

Insider Buying and Selling at Selective Insurance Group

In related news, CEO John J. Marchioni acquired 2,400 shares of the business’s stock in a transaction on 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 in the company, valued at $11,397,333.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO John J. Marchioni acquired 2,400 shares of the business’s stock in a transaction on 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 in the company, valued at $11,397,333.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Terrence W. Cavanaugh acquired 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 acquisition, the director now owns 20,651 shares in the company, valued at approximately $1,772,888.35. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SIGI. Piper Sandler dropped their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada lowered their target price on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, July 22nd. Bank of America lowered their target price on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating for the company in a research note on Thursday, July 11th. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets boosted their target price on shares of Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average price target of $98.67.

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.