Intech Investment Management LLC Increases Stake in Selective Insurance Group, Inc. $SIGI

Key Points

• Intech Investment Management LLC increased its stake in Selective Insurance Group by 138% in the fourth quarter, bringing its holdings to 62,686 shares worth about $5.25 million.
• Several other institutional investors also raised their positions, and hedge funds and other institutions now own 82.88% of the company’s shares.
• Analysts are mixed on SIGI, with an average rating of Hold and an average price target of $91.67; the stock last traded at $86.54 and the company recently reported earnings that missed EPS expectations but beat revenue estimates.

Intech Investment Management LLC grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 138.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,686 shares of the insurance provider's stock after buying an additional 36,351 shares during the quarter. Intech Investment Management LLC owned 0.10% of Selective Insurance Group worth $5,245,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC raised its position in Selective Insurance Group by 45.9% during the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider's stock worth $34,000 after buying an additional 129 shares during the last quarter. Amundi raised its position in Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider's stock worth $36,000 after buying an additional 311 shares during the last quarter. Rothschild Investment LLC raised its position in Selective Insurance Group by 680.0% during the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider's stock worth $44,000 after buying an additional 476 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Selective Insurance Group by 38.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider's stock worth $46,000 after buying an additional 154 shares during the last quarter. Finally, First Horizon Corp increased its holdings in shares of Selective Insurance Group by 52.8% in the 4th quarter. First Horizon Corp now owns 550 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SIGI shares. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and increased their price target for the company from $84.00 to $97.00 in a report on Thursday, May 7th. Keefe, Bruyette & Woods increased their price target on shares of Selective Insurance Group from $84.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Piper Sandler increased their price target on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Selective Insurance Group in a report on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $91.67.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $86.54 on Monday. The company has a 50-day simple moving average of $82.21 and a 200-day simple moving average of $82.15. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.18 billion, a PE ratio of 11.84 and a beta of 0.32. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $91.65.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.81 by ($0.12). The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.29 billion. Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 EPS. Equities research analysts predict that Selective Insurance Group, Inc. will post 7.81 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, May 15th. Selective Insurance Group's dividend payout ratio is presently 23.53%.

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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