Selective Insurance Group, Inc. $SIGI Holdings Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 44.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,180 shares of the insurance provider's stock after purchasing an additional 43,184 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of Selective Insurance Group worth $12,924,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Olde Wealth Management LLC acquired a new position in Selective Insurance Group during the 1st quarter valued at about $28,000. Quarry LP acquired a new stake in shares of Selective Insurance Group in the 4th quarter worth approximately $38,000. Toth Financial Advisory Corp acquired a new stake in shares of Selective Insurance Group in the 1st quarter worth approximately $41,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Selective Insurance Group by 752.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider's stock worth $49,000 after acquiring an additional 474 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of 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 acquiring an additional 249 shares during the period. 82.88% of the stock is owned by institutional investors.

Insider Transactions at Selective Insurance Group

In related news, Director Terrence W. Cavanaugh bought 2,000 shares of the business's stock in a transaction on 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 transaction, the director directly owned 25,295 shares in the company, valued at $1,915,337.40. This represents a 8.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Eppers bought 1,402 shares of the business's stock in a transaction on Friday, July 25th. The stock was bought at an average price of $76.82 per share, with a total value of $107,701.64. Following the transaction, the executive vice president owned 12,492 shares in the company, valued at approximately $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 ninety days, insiders have acquired 10,602 shares of company stock worth $817,440. 1.50% of the stock is currently owned by insiders.

Selective Insurance Group Trading Up 1.2%

Selective Insurance Group stock traded up $0.9550 during midday trading on Friday, reaching $79.0650. The stock had a trading volume of 157,659 shares, compared to its average volume of 453,756. The firm's fifty day simple moving average is $83.01 and its two-hundred day simple moving average is $85.56. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $103.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 12.93 and a beta of 0.47.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.55 by ($0.24). Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.50%.The firm 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 posted ($1.10) EPS. Equities analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SIGI. BMO Capital Markets set a $88.00 price target on shares of Selective Insurance Group and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Piper Sandler reduced their price target on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Keefe, Bruyette & Woods reduced their price target on shares of Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a research note on Monday, July 28th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley lowered shares of Selective Insurance Group from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $86.00 to $72.00 in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $87.33.

Selective Insurance Group 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.