Corient Private Wealth LP Makes New $1.77 Million Investment in Selective Insurance Group, Inc. $SIGI

Corient Private Wealth LP purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 18,297 shares of the insurance provider's stock, valued at approximately $1,775,000.

Several other institutional investors have also made changes to their positions in SIGI. Eurizon Capital SGR S.p.A. acquired a new position in Selective Insurance Group in the fourth quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in Selective Insurance Group in the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Selective Insurance Group in the second quarter worth approximately $26,000. Amundi grew its position in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider's stock worth $36,000 after acquiring an additional 311 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Selective Insurance Group by 177.5% during the 4th quarter. IFP Advisors Inc now owns 591 shares of the insurance provider's stock worth $49,000 after purchasing an additional 378 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Up 1.1%

Shares of Selective Insurance Group stock opened at $93.20 on Friday. Selective Insurance Group, Inc. has a 12-month low of $72.78 and a 12-month high of $100.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average price of $95.01 and a two-hundred day moving average price of $87.70. The stock has a market capitalization of $5.55 billion, a P/E ratio of 11.56 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.29. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $1.31 earnings per share. Equities analysts expect that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, August 17th. Selective Insurance Group's dividend payout ratio (DPR) is 21.34%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SIGI. Royal Bank Of Canada raised their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Piper Sandler upped their price objective on shares of Selective Insurance Group from $93.00 to $103.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their target price on shares of Selective Insurance Group from $101.00 to $102.00 and gave the stock a "market perform" rating in a research report on Thursday, July 30th. BMO Capital Markets lowered Selective Insurance Group from an "outperform" rating to a "market perform" rating and set a $97.00 target price on the stock. in a report on Tuesday, July 28th. Finally, Weiss Ratings lowered Selective Insurance Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $100.33.

Insider Buying and Selling

In other Selective Insurance Group news, EVP Michael Lanza sold 17,100 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the completion of the transaction, the executive vice president owned 16,565 shares of the company's stock, valued at $1,557,772.60. The trade was a 50.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by company insiders.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company's core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.

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