Deutsche Bank AG Takes Position in Selective Insurance Group, Inc. $SIGI

Key Points

• Deutsche Bank acquired 314,118 shares of Selective Insurance Group valued at approximately $30.5 million, giving it a 0.53% stake. Institutional investors collectively own 82.88% of the company.
• Selective Insurance Group exceeded quarterly expectations, reporting $1.95 earnings per share versus the $1.66 consensus estimate and revenue of $1.39 billion versus $1.30 billion expected.
• Analysts maintain a consensus “Hold” rating with an average price target of $100.33, while the company declared a quarterly dividend of $0.43 per share, representing a 1.9% annualized yield.

Deutsche Bank AG bought a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 314,118 shares of the insurance provider's stock, valued at approximately $30,473,000. Deutsche Bank AG owned approximately 0.53% of Selective Insurance Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Selective Insurance Group by 56.3% during the 4th quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider's stock valued at $339,662,000 after acquiring an additional 1,462,838 shares in the last quarter. Norges Bank acquired a new stake in shares of Selective Insurance Group in the fourth quarter worth $65,625,000. First Trust Advisors LP increased its holdings in Selective Insurance Group by 239.1% in the 4th quarter. First Trust Advisors LP now owns 1,036,519 shares of the insurance provider's stock valued at $86,726,000 after buying an additional 730,890 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Selective Insurance Group during the second quarter valued at $47,482,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Selective Insurance Group by 332.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 420,106 shares of the insurance provider's stock valued at $31,672,000 after buying an additional 322,901 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Selective Insurance Group from $101.00 to $102.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Piper Sandler boosted their price target on shares of Selective Insurance Group from $93.00 to $103.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Morgan Stanley upped their price target on Selective Insurance Group from $72.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, July 6th. Royal Bank Of Canada upped their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Finally, Oppenheimer lifted their price target on Selective Insurance Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $100.33.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, EVP Michael H. Lanza sold 17,100 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total value of $1,608,084.00. Following the completion of the sale, the executive vice president directly owned 16,565 shares in the company, valued at approximately $1,557,772.60. This trade represents a 50.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Selective Insurance Group Trading Up 0.7%

Selective Insurance Group stock opened at $91.47 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26. Selective Insurance Group, Inc. has a 12-month low of $72.78 and a 12-month high of $100.40. The firm has a 50 day moving average of $95.19 and a 200 day moving average of $87.45. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 11.35 and a beta of 0.30.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, topping 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 firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, research analysts predict that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. Selective Insurance Group's dividend payout ratio (DPR) is presently 21.34%.

Selective Insurance Group Profile

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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