Sivia Capital Partners LLC Buys Shares of 5,396 Selective Insurance Group, Inc. $SIGI

Key Points

• Sivia Capital Partners LLC acquired a new stake in Selective Insurance Group, buying 5,396 shares valued at approximately $468,000 during the 2nd quarter.
• The company reported earnings per share of $1.31 for the last quarter, missing estimates by $0.24, and has a current market capitalization of $4.71 billion.
• Selective Insurance Group announced a quarterly dividend of $0.38 per share, with a dividend yield of 2.0% and a payout ratio of 24.88%.

Sivia Capital Partners LLC purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,396 shares of the insurance provider's stock, valued at approximately $468,000.

Other institutional investors have also recently made changes to their positions in the company. Olde Wealth Management LLC bought a new stake in shares of Selective Insurance Group in the 1st quarter valued at about $28,000. Parallel Advisors LLC grew its position in shares of Selective Insurance Group by 219.5% in the 2nd quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider's stock valued at $31,000 after buying an additional 248 shares during the last quarter. Amundi grew its position 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 buying an additional 311 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Selective Insurance Group in the 1st quarter valued at about $38,000. Finally, Toth Financial Advisory Corp bought a new stake in shares of Selective Insurance Group in the 1st quarter valued at about $41,000. Institutional investors own 82.88% of the company's stock.

Analyst Upgrades and Downgrades

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

Selective Insurance Group Stock Down 1.1%

Shares of SIGI stock traded down $0.87 during trading hours on Friday, reaching $77.43. The company had a trading volume of 1,832,665 shares, compared to its average volume of 489,187. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 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 business has a fifty day simple moving average of $79.92 and a 200-day simple moving average of $84.87. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 12.67 and a beta of 0.44.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.55 by ($0.24). The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same quarter in the prior year, the business earned ($1.10) EPS. On average, research analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis 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%.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni purchased 3,200 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $77.89 per share, for a total transaction of $249,248.00. Following the completion of the acquisition, the chief executive officer owned 139,775 shares of the company's stock, valued at $10,887,074.75. The trade was a 2.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Kelly Doherty purchased 1,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $77.00 per share, for a total transaction of $115,500.00. Following the completion of the acquisition, the director directly owned 27,110 shares of the company's stock, valued at $2,087,470. This trade represents a 5.86% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 10,602 shares of company stock valued at $817,440 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

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.