5,916 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Purchased by First National Advisers LLC

Key Points

• First National Advisers LLC has acquired a new stake in Selective Insurance Group, Inc., purchasing 5,916 shares valued at approximately $542,000 in the 1st quarter of the year.
• Select insurance reported earnings of $1.31 per share, missing consensus estimates of $1.55, with a revenue of $1.29 billion compared to the expected $1.32 billion.
• The company announced a quarterly dividend of $0.38, with a payout ratio of 24.88%, indicating a yield of 1.96% for investors.

First National Advisers LLC acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,916 shares of the insurance provider's stock, valued at approximately $542,000.

Several other large investors have also modified their holdings of the company. Olde Wealth Management LLC acquired a new stake in shares of Selective Insurance Group during the first quarter worth $28,000. Quarry LP acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth $38,000. Toth Financial Advisory Corp acquired a new stake in shares of Selective Insurance Group during the first quarter worth $41,000. Signaturefd LLC lifted its holdings in shares of Selective Insurance Group by 58.7% during 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 shares of Selective Insurance Group by 116.3% during 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased 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. Piper Sandler decreased 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. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Morgan Stanley reduced their target price on Selective Insurance Group from $90.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Finally, BMO Capital Markets raised their target price on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Selective Insurance Group presently has a consensus rating of "Hold" and an average price target of $91.00.

Insider Transactions at Selective Insurance Group

In other news, EVP Joseph Eppers purchased 1,402 shares of the company's stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $76.82 per share, for a total transaction of $107,701.64. Following the completion of the transaction, the executive vice president directly owned 12,492 shares in the company, valued at $959,635.44. This represents a 12.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO John J. Marchioni acquired 3,200 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average price of $77.89 per share, with a total value of $249,248.00. Following the transaction, the chief executive officer owned 139,775 shares in the company, valued at $10,887,074.75. This represents a 2.34% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,102 shares of company stock worth $701,940. Corporate insiders own 1.50% of the company's stock.

Selective Insurance Group Price Performance

Selective Insurance Group stock traded down $0.26 during midday trading on Thursday, reaching $79.15. The company's stock had a trading volume of 284,296 shares, compared to its average volume of 446,895. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $103.56. The firm has a market capitalization of $4.82 billion, a PE ratio of 12.95 and a beta of 0.48. The stock's 50 day simple moving average is $86.07 and its 200 day simple moving average is $87.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.33.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced 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 net margin of 7.50% and a return on equity of 12.61%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the business earned ($1.10) EPS. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, August 15th. Selective Insurance Group's dividend payout ratio 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.