Deutsche Bank AG Has $19.64 Million Stake in Selective Insurance Group, Inc. $SIGI

Key Points

• Deutsche Bank AG has increased its stake in Selective Insurance Group by 10.5%, acquiring an additional 20,410 shares to bring its total ownership to 214,515 shares, valued at approximately $19.6 million.
• Selective Insurance Group's insider activity saw two directors purchasing shares, increasing their positions by 8.59% and 5.86% respectively, indicating strong confidence in the company's future.
• The company declared a quarterly dividend of $0.38 per share, representing an annualized yield of 1.9%, with the next payment scheduled for September 2nd.

Deutsche Bank AG increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 10.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,515 shares of the insurance provider's stock after buying an additional 20,410 shares during the quarter. Deutsche Bank AG owned about 0.35% of Selective Insurance Group worth $19,637,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SIGI. Olde Wealth Management LLC bought a new position in shares of Selective Insurance Group in the first quarter worth $28,000. Quarry LP bought a new position in shares of Selective Insurance Group in the fourth quarter worth $38,000. Toth Financial Advisory Corp acquired a new stake in Selective Insurance Group in the first quarter worth about $41,000. Signaturefd LLC lifted its holdings in Selective Insurance Group by 58.7% in the first quarter. Signaturefd LLC now owns 673 shares of the insurance provider's stock worth $62,000 after purchasing an additional 249 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Selective Insurance Group by 116.3% in the first quarter. UMB Bank n.a. now owns 928 shares of the insurance provider's stock worth $85,000 after purchasing an additional 499 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Trading Down 0.8%

NASDAQ SIGI traded down $0.61 on Monday, hitting $76.10. 73,754 shares of the company were exchanged, compared to its average volume of 453,503. The company's 50 day moving average price is $83.68 and its 200-day moving average price is $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $4.63 billion, a P/E ratio of 12.46 and a beta of 0.47. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share 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 firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period last year, the business earned ($1.10) earnings per share. Analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a $0.38 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. Selective Insurance Group's dividend payout ratio is currently 24.88%.

Analyst Ratings Changes

SIGI has been the subject of several research analyst reports. BMO Capital Markets set a $88.00 price objective on shares of Selective Insurance Group and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Morgan Stanley downgraded shares of Selective Insurance Group from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $86.00 to $72.00 in a report on Tuesday, August 5th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Piper Sandler reduced their price objective on shares of 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 decreased their target price on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a research note on Monday, July 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of "Hold" and an average price target of $87.33.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, EVP Joseph Eppers bought 1,402 shares of the stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $76.82 per share, with a total value of $107,701.64. Following the acquisition, the executive vice president directly owned 12,492 shares of the company's stock, valued at $959,635.44. This represents a 12.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Terrence W. Cavanaugh acquired 2,000 shares of Selective Insurance Group stock in a transaction dated Friday, July 25th. The stock was acquired at an average cost of $75.72 per share, with a total value of $151,440.00. Following the completion of the transaction, the director directly 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 have acquired a total of 10,602 shares of company stock valued at $817,440 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Selective Insurance Group 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.