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

Key Points

• New Age Alpha Advisors LLC increased its stake in Selective Insurance Group by 36.9% during the first quarter, acquiring an additional 17,236 shares to bring its total ownership to 63,902 shares.
• Selective Insurance Group's stock price opened at $79.09 and has a market capitalization of $4.81 billion, with a price-to-earnings ratio of 12.94.
• The company recently announced a quarterly dividend of $0.38, representing an annualized yield of 1.9% and a payout ratio of 24.88%.

New Age Alpha Advisors LLC lifted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,902 shares of the insurance provider's stock after buying an additional 17,236 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.11% of Selective Insurance Group worth $5,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State of Alaska Department of Revenue grew its position in shares of Selective Insurance Group by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,117 shares of the insurance provider's stock valued at $651,000 after purchasing an additional 185 shares during the period. State of Michigan Retirement System boosted its stake in Selective Insurance Group by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider's stock worth $1,335,000 after purchasing an additional 200 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Selective Insurance Group by 8.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,542 shares of the insurance provider's stock valued at $238,000 after buying an additional 202 shares during the last quarter. Captrust Financial Advisors grew its stake in Selective Insurance Group by 4.1% during the 4th quarter. Captrust Financial Advisors now owns 6,141 shares of the insurance provider's stock valued at $574,000 after acquiring an additional 244 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Selective Insurance Group by 58.7% in the 1st quarter. Signaturefd LLC now owns 673 shares of the insurance provider's stock worth $62,000 after purchasing an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Selective Insurance Group Stock Up 0.5%

Shares of Selective Insurance Group stock traded up $0.41 during trading hours on Friday, reaching $78.15. 317,853 shares of the company were exchanged, compared to its average volume of 452,343. The firm has a market cap of $4.76 billion, a PE ratio of 12.79 and a beta of 0.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $103.56. The stock's fifty day moving average is $84.89 and its 200 day moving average is $86.46.

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 (EPS) 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 company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business earned ($1.10) EPS. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Selective Insurance Group's payout ratio is presently 24.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler reduced their price target on Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. 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. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley lowered Selective Insurance Group from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $86.00 to $72.00 in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered their target price on 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $87.33.

Insider Activity

In other Selective Insurance Group news, Director Thomas A. Mccarthy bought 2,500 shares of the business's stock in a transaction dated Monday, July 28th. The shares were acquired at an average price of $77.42 per share, with a total value of $193,550.00. Following the transaction, the director owned 18,746 shares of the company's stock, valued at approximately $1,451,315.32. The trade was a 15.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Eppers purchased 1,402 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $76.82 per share, with a total value of $107,701.64. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 10,602 shares of company stock valued at $817,440. Insiders own 1.50% of the company's stock.

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.