Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Purchased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has increased its stake in Selective Insurance Group by 23.3%, now holding 222,214 shares valued at $20.34 million.
• Analysts have mixed views on Selective Insurance Group, with one analyst rating it a sell, five a hold, and two a buy, along with a consensus target price of $91.00.
• The company recently announced a quarterly dividend of $0.38, reflecting a 2.0% yield and a payout ratio of 24.88%.

Natixis Advisors LLC lifted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 222,214 shares of the insurance provider's stock after purchasing an additional 41,946 shares during the quarter. Natixis Advisors LLC owned about 0.37% of Selective Insurance Group worth $20,342,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. boosted its position in Selective Insurance Group by 36.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider's stock valued at $103,280,000 after buying an additional 299,925 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Selective Insurance Group by 245.7% during the fourth quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider's stock worth $26,622,000 after purchasing an additional 202,318 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Selective Insurance Group by 39.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider's stock worth $52,796,000 after purchasing an additional 160,193 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Selective Insurance Group during the fourth quarter worth about $10,484,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Selective Insurance Group by 330.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 118,053 shares of the insurance provider's stock worth $11,040,000 after purchasing an additional 90,631 shares during the period. Institutional investors own 82.88% of the company's stock.

Selective Insurance Group Stock Performance

SIGI traded down $1.29 during mid-day trading on Thursday, reaching $77.74. 424,416 shares of the company traded hands, compared to its average volume of 451,951. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $103.56. The company's fifty day moving average price is $85.08 and its 200-day moving average price is $86.57. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4.73 billion, a P/E ratio of 12.72 and a beta of 0.47.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.24). The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.32 billion. Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.50%. During the same quarter in the previous year, the firm earned ($1.10) EPS. On average, sell-side analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on SIGI shares. BMO Capital Markets set a $88.00 target price on shares of Selective Insurance Group and gave the stock an "outperform" rating in a report on Tuesday. Piper Sandler lowered 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. Keefe, Bruyette & Woods lowered their price objective on shares of Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a report on Monday, July 28th. Morgan Stanley lowered shares of Selective Insurance Group from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $86.00 to $72.00 in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $87.33.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni acquired 3,200 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average price of $77.89 per share, with a total value of $249,248.00. Following the purchase, the chief executive officer owned 139,775 shares in the company, valued at approximately $10,887,074.75. The trade was a 2.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Terrence W. Cavanaugh acquired 2,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $75.72 per share, for a total transaction of $151,440.00. Following the completion of the acquisition, the director owned 25,295 shares in the company, valued at approximately $1,915,337.40. The trade was a 8.59% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 10,602 shares of company stock valued at $817,440. Corporate insiders own 1.50% of the company's stock.

About Selective Insurance Group

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.