Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report ) by 81.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 323 shares of the insurance provider’s stock after buying an additional 145 shares during the period. GAMMA Investing LLC’s holdings in Selective Insurance Group were worth $30,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SIGI. Rise Advisors LLC bought a new stake in shares of Selective Insurance Group in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new position in Selective Insurance Group in the first quarter worth about $48,000. Burkett Financial Services LLC bought a new position in Selective Insurance Group in the 4th quarter valued at about $75,000. Lazard Asset Management LLC grew its position in Selective Insurance Group by 245.9% in the first quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider’s stock worth $134,000 after purchasing an additional 873 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Selective Insurance Group by 16.5% in the 4th quarter. SG Americas Securities LLC now owns 2,001 shares of the insurance provider’s stock worth $199,000 after purchasing an additional 283 shares during the last quarter. Institutional investors own 82.88% of the company’s shares.

Analysts on Wall Street are forecasting an increase

SIGI has been the subject of several recent analyst reports. Royal Bank of Canada cut 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. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Piper Sandler cut 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. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $104.00 to $99.00 in a note of research from Monday, July 22. Finally, BMO Capital Markets upped their price target 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 24. 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. The stock currently has a consensus rating of “Hold” and an average price target of $98.67, according to MarketBeat.com.

Get the latest Selective Insurance Group analysis

Selective Insurance Group stocks rose 0.7%

Shares of Selective Insurance Group stock opened at $85.66 on Monday. The company’s 50-day moving average price is $91.57, and its two-hundred-day moving average price is $98.13. Selective Insurance Group, Inc. has a 12-month low of $81.00 and a 12-month high of $109.58. The firm has a market cap of $5.21 billion, a PE ratio of 15.13, a P/E/G ratio of 1.19 and a beta of 0.54. 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 – Get Free Report ) last announced its quarterly earnings results on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing the consensus estimate of $1.49 by ($2.59). The company had revenue of $1.20 billion for 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%. In the same quarter last year, the company earned $0.99 EPS. On average, research analysts predict that Selective Insurance Group, Inc. will post 4.42 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $0.35 dividend. This represents a dividend of $1.40 on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, August 15. Selective Insurance Group’s dividend payout ratio (DPR) is currently 24.74%.

Insider buying and selling at Selective Insurance Group

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

About Selective Insurance Group

(Free report)

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. Provides accident insurance products that cover the financial consequences of injuries to employees in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which cover accidental loss of real property, personal property and/or earnings due to the loss of an insured’s property; and flood insurance products.

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