XTX Topco Ltd Purchases New Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Key Points

• XTX Topco Ltd acquired a new stake in Selective Insurance Group, Inc. by purchasing 12,620 shares valued at approximately $1.15 million in the first quarter.
• Selective Insurance reported $1.31 earnings per share for the latest quarter, missing the consensus estimate by $0.24, with revenues of $1.29 billion.
• The company announced a quarterly dividend of $0.38 per share, translating to an annualized return of 2.0% on its stock, with a payout ratio of about 24.88%.

XTX Topco Ltd acquired a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,620 shares of the insurance provider's stock, valued at approximately $1,155,000.

Other large investors also recently modified their holdings of the company. Olde Wealth Management LLC bought a new stake in shares of Selective Insurance Group in the first quarter worth $28,000. Quarry LP bought a new stake in shares of Selective Insurance Group in the fourth quarter worth $38,000. Toth Financial Advisory Corp bought a new stake in Selective Insurance Group during the first quarter valued at approximately $41,000. Signaturefd LLC grew its position in Selective Insurance Group by 58.7% during the first quarter. Signaturefd LLC now owns 673 shares of the insurance provider's stock valued at $62,000 after buying an additional 249 shares during the period. Finally, UMB Bank n.a. grew its position in Selective Insurance Group by 116.3% during the first quarter. UMB Bank n.a. now owns 928 shares of the insurance provider's stock valued at $85,000 after buying an additional 499 shares during the period. Institutional investors own 82.88% of the company's stock.

Wall Street Analysts Forecast Growth

SIGI has been the subject of several recent research reports. Wall Street Zen upgraded shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley lowered Selective Insurance Group from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $86.00 to $72.00 in a report on Tuesday. BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the company an "outperform" rating in a report on Tuesday. Piper Sandler cut their price target on Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods cut their price target on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a report on Monday, July 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $87.33.

Selective Insurance Group Price Performance

Selective Insurance Group stock traded up $0.68 during mid-day trading on Wednesday, hitting $78.69. The stock had a trading volume of 275,567 shares, compared to its average volume of 451,584. The firm has a market capitalization of $4.79 billion, a P/E ratio of 12.88 and a beta of 0.47. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average is $85.23 and its 200 day moving average is $86.62. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.50%. During the same period in the prior year, the company posted ($1.10) EPS. On average, sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 15th. Selective Insurance Group's dividend payout ratio (DPR) is presently 24.88%.

Insider Activity at Selective Insurance Group

In related news, EVP Joseph Eppers bought 1,402 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $76.82 per share, with a total value of $107,701.64. Following the completion of the purchase, the executive vice president owned 12,492 shares of the company's stock, valued at approximately $959,635.44. The trade was a 12.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Terrence W. Cavanaugh bought 2,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average cost of $75.72 per share, with a total value of $151,440.00. Following the completion of the purchase, the director directly owned 25,295 shares of the company's stock, valued at $1,915,337.40. This represents a 8.59% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 10,602 shares of company stock valued at $817,440 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.