Selective Insurance Group, Inc. $SIGI Shares Bought by UBS Group AG

Key Points

• UBS Group AG boosted its stake in Selective Insurance Group by 46.1% in the fourth quarter, buying an additional 74,757 shares and bringing its total holding to 237,076 shares worth about $19.8 million.
• The company reported mixed quarterly results: earnings of $1.69 per share missed estimates, but revenue of $1.36 billion topped expectations and rose 5.7% year over year.
• Selective Insurance Group announced a quarterly dividend of $0.43 per share, or $1.72 annually, for a 2.0% yield; analysts currently rate the stock a consensus Hold with an average price target of $87.60.

UBS Group AG lifted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 46.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 237,076 shares of the insurance provider's stock after buying an additional 74,757 shares during the period. UBS Group AG owned approximately 0.39% of Selective Insurance Group worth $19,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Corp purchased a new stake in Selective Insurance Group during the 3rd quarter valued at approximately $29,000. True Wealth Design LLC grew its stake in shares of Selective Insurance Group by 45.9% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 129 shares during the last quarter. Amundi grew its stake in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 311 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of Selective Insurance Group by 680.0% in the third quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 476 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Selective Insurance Group by 38.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider's stock worth $46,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Selective Insurance Group Trading Up 0.0%

Shares of SIGI stock opened at $84.81 on Tuesday. The business's fifty day moving average price is $79.63 and its 200 day moving average price is $81.01. The firm has a market capitalization of $5.08 billion, a PE ratio of 11.60 and a beta of 0.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $91.63.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.12). The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.Selective Insurance Group's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. As a group, sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.76 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SIGI. Weiss Ratings reiterated a "hold (c)" rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Royal Bank Of Canada restated an "outperform" rating and set a $95.00 price objective on shares of Selective Insurance Group in a research report on Monday, March 23rd. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $84.00 to $97.00 in a research note on Thursday. Keefe, Bruyette & Woods lifted their target price 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. Finally, Piper Sandler boosted their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a "neutral" rating in a research note on Monday, February 2nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Selective Insurance Group presently has a consensus rating of "Hold" and an average target price of $87.60.

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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