Legacy Capital Wealth Partners LLC invested $222,000 in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Legacy Capital Wealth Partners LLC acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,366 shares of the insurance provider’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently bought and sold shares of SIGI. Rise Advisors LLC purchased a new position in shares of Selective Insurance Group in the first quarter valued at approximately $27,000. GAMMA Investing LLC boosted its stake in Selective Insurance Group by 81.5% in 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 during the last quarter. Fidelis Capital Partners LLC purchased a new position in Selective Insurance Group in the first quarter worth $48,000. Burkett Financial Services LLC bought a new stake in shares of Selective Insurance Group in the 4th quarter valued at approximately $75,000. Finally, Lazard Asset Management LLC boosted its stake 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 valued at $134,000 after purchasing an additional 873 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s shares.

Indoor activity

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

Price performance of the selective insurance group

Shares of SIGI stock opened at $90.81 on Thursday. Selective Insurance Group, Inc. has a 12-month low of $81.00 and a 12-month high of $109.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32, and a quick ratio of 0.32. The stock has a fifty day moving average price of $90.22 and a 200 day moving average price of $96.54. The company has a market cap of $5.52 billion, a P/E ratio of 16.04, a PEG ratio of 1.50 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report ) last posted 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate 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 posted EPS of $0.99. On average, research analysts estimate that Selective Insurance Group, Inc. will post 3.84 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.35 dividend. The ex-dividend date was Thursday, August 15. This represents an annualized dividend of $1.40 and a dividend yield of 1.54%. Selective Insurance Group’s payout ratio is currently 24.73%.

Analysts set new price targets

A number of equities analysts have recently commented on SIGI shares. Royal Bank of Canada reduced their price target on 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. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. Piper Sandler reduced their price objective 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 reduced their price objective on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating for the company in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $104.00 to $99.00 USD in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Selective Insurance Group has a consensus rating of “Hold” and a consensus price target of $98.67, based on data from MarketBeat.com.

Get the latest stock report for Selective Insurance Group

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.

Featured stories

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