PDT Partners LLC Makes New Investment in Selective Insurance Group, Inc. $SIGI

Key Points

• PDT Partners LLC acquired 4,700 shares in Selective Insurance Group, Inc., valued at approximately $430,000, marking a new investment in the company this quarter.
• The company's stock has seen a 2.3% increase in trading, with current share prices around $81.04, while its market capitalization stands at $4.93 billion.
• Selective Insurance Group recently announced a quarterly dividend of $0.38 per share, representing an annualized dividend yield of 1.9%, reflecting a dividend payout ratio of 24.88%.

PDT Partners LLC bought a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,700 shares of the insurance provider's stock, valued at approximately $430,000.

Several other large investors have also added to or reduced their stakes in the business. Olde Wealth Management LLC acquired a new stake in Selective Insurance Group in the first quarter valued at $28,000. Brooklyn Investment Group acquired a new stake in Selective Insurance Group in the first quarter valued at $38,000. Toth Financial Advisory Corp acquired a new stake in Selective Insurance Group in the first quarter valued at $41,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Selective Insurance Group by 752.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider's stock valued at $49,000 after acquiring an additional 474 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Selective Insurance Group by 58.7% in the first quarter. Signaturefd LLC now owns 673 shares of the insurance provider's stock valued at $62,000 after acquiring an additional 249 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni purchased 3,200 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $77.89 per share, with a total value of $249,248.00. Following the completion of the transaction, the chief executive officer owned 139,775 shares in the company, valued at $10,887,074.75. The trade was a 2.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terrence W. Cavanaugh purchased 2,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $75.72 per share, for a total transaction of $151,440.00. Following the completion of the transaction, the director owned 25,295 shares of the company's stock, valued at $1,915,337.40. This trade represents a 8.59% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 10,602 shares of company stock valued at $817,440 in the last quarter. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley cut shares of 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 research note on Tuesday, August 5th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. BMO Capital Markets set a $88.00 price objective on shares of Selective Insurance Group and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Piper Sandler dropped their price objective on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating on the stock in a research report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $87.33.

Selective Insurance Group Stock Performance

Shares of SIGI traded down $1.23 during trading hours on Friday, hitting $79.81. The company had a trading volume of 388,055 shares, compared to its average volume of 509,051. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 13.06 and a beta of 0.44. The business has a fifty day moving average of $81.51 and a 200-day moving average of $85.26. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $103.56. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28.

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

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 15th. Selective Insurance Group's dividend payout ratio (DPR) is currently 24.88%.

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.