Intech Investment Management LLC Has $2.64 Million Stake in Selective Insurance Group, Inc. $SIGI

Key Points

• Intech Investment Management LLC increased its stake in Selective Insurance Group by 13.3%, owning 28,854 shares valued at approximately $2.64 million.
• Analyst ratings for Selective Insurance Group indicate a range of opinions, with one Buy, four Hold, and two Sell ratings, and a consensus price target set at $87.33.
• Selective Insurance Group recently paid a quarterly dividend of $0.38 per share, resulting in an annualized dividend yield of 1.9% and a payout ratio of 24.88%.

Intech Investment Management LLC boosted its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 13.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,854 shares of the insurance provider's stock after buying an additional 3,377 shares during the quarter. Intech Investment Management LLC's holdings in Selective Insurance Group were worth $2,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC purchased a new stake in Selective Insurance Group in the 1st quarter worth approximately $28,000. Amundi lifted its position in Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider's stock worth $36,000 after buying an additional 311 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Selective Insurance Group in the 1st quarter worth approximately $38,000. Toth Financial Advisory Corp purchased a new stake in Selective Insurance Group in the 1st quarter worth approximately $41,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in 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 buying an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Selective Insurance Group Stock Performance

SIGI traded down $0.87 during trading on Friday, hitting $77.43. The stock had a trading volume of 1,832,665 shares, compared to its average volume of 489,187. The firm has a market cap of $4.71 billion, a PE ratio of 12.67 and a beta of 0.44. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $103.56. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $79.92 and a 200-day simple moving average of $84.87.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its 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 firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate 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 last year, the business earned ($1.10) EPS. Analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 15th. Selective Insurance Group's dividend payout ratio (DPR) is 24.88%.

Analysts Set New Price Targets

A number of research firms have issued reports on SIGI. BMO Capital Markets set a $88.00 target price on shares of Selective Insurance Group and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Piper Sandler cut their target price on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Morgan Stanley downgraded shares of Selective Insurance Group from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $86.00 to $72.00 in a research report on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating on the stock in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $87.33.

Insider Transactions at Selective Insurance Group

In related news, CEO John J. Marchioni purchased 3,200 shares of the firm's stock in a transaction on Monday, July 28th. The shares were bought at an average cost of $77.89 per share, for a total transaction of $249,248.00. Following the transaction, the chief executive officer directly owned 139,775 shares of the company's stock, valued at approximately $10,887,074.75. This trade represents a 2.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Eppers purchased 1,402 shares of the firm's stock in a transaction on Friday, July 25th. The stock was bought at an average price of $76.82 per share, for a total transaction of $107,701.64. Following the completion of the transaction, the executive vice president directly owned 12,492 shares in the company, valued at approximately $959,635.44. The trade was a 12.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 10,602 shares of company stock worth $817,440. Corporate 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.