Selective Insurance Group, Inc. $SIGI Shares Sold by Algert Global LLC

Algert Global LLC decreased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,451 shares of the insurance provider's stock after selling 106,240 shares during the period. Algert Global LLC owned 0.18% of Selective Insurance Group worth $10,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SIGI. Eurizon Capital SGR S.p.A. acquired a new position in Selective Insurance Group in the fourth quarter valued at $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Selective Insurance Group during the second quarter worth about $26,000. Amundi lifted its holdings 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. Finally, IFP Advisors Inc lifted its holdings in shares of Selective Insurance Group by 177.5% in the 4th quarter. IFP Advisors Inc now owns 591 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 378 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Down 0.8%

Selective Insurance Group stock opened at $91.91 on Wednesday. The stock has a 50 day moving average of $95.19 and a two-hundred day moving average of $87.53. Selective Insurance Group, Inc. has a twelve month low of $72.78 and a twelve month high of $100.40. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 11.40 and a beta of 0.30. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.29. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. As a group, research analysts expect that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, August 17th. Selective Insurance Group's dividend payout ratio (DPR) is 21.34%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SIGI shares. Morgan Stanley raised their price target on Selective Insurance Group from $72.00 to $80.00 and gave the stock an "underweight" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods boosted their price objective on Selective Insurance Group from $101.00 to $102.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Piper Sandler increased their price objective on Selective Insurance Group from $93.00 to $103.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Selective Insurance Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Three equities research 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, the company has a consensus rating of "Hold" and an average price target of $100.33.

Insider Activity at Selective Insurance Group

In other news, EVP Michael H. Lanza sold 17,100 shares of Selective Insurance Group stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total value of $1,608,084.00. Following the sale, the executive vice president owned 16,565 shares of the company's stock, valued at $1,557,772.60. The trade was a 50.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.82% of the company's stock.

Selective Insurance Group Company 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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