Sivia Capital Partners LLC Purchases 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 position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,396 shares of the insurance provider's stock, valued at approximately $468,000.

A number of other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Selective Insurance Group by 219.5% during the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider's stock worth $31,000 after purchasing an additional 248 shares during the period. Strs Ohio acquired a new position in shares of Selective Insurance Group during the first quarter worth approximately $1,822,000. Intech Investment Management LLC raised its position in shares of Selective Insurance Group by 13.3% during the first quarter. Intech Investment Management LLC now owns 28,854 shares of the insurance provider's stock worth $2,641,000 after purchasing an additional 3,377 shares during the period. Focus Partners Wealth raised its position in shares of Selective Insurance Group by 17.9% during the first quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider's stock worth $248,000 after purchasing an additional 411 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Selective Insurance Group during the first quarter worth approximately $702,000. 82.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Selective Insurance Group

In other news, EVP Joseph Eppers purchased 1,402 shares of the business's stock in a transaction dated 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 purchase, the executive vice president owned 12,492 shares of the company's stock, valued at $959,635.44. The trade was a 12.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Mccarthy purchased 2,500 shares of the business's stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $77.42 per share, with a total value of $193,550.00. Following the purchase, the director directly owned 18,746 shares in the company, valued at $1,451,315.32. This trade represents a 15.39% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 10,602 shares of company stock worth $817,440 in the last three months. Corporate insiders own 1.50% of the company's stock.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock traded up $0.88 during trading hours on Thursday, hitting $78.30. 407,051 shares of the company's stock traded hands, compared to its average volume of 491,394. 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 stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 12.82 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 fifty day simple moving average of $80.09 and a 200-day simple moving average of $84.93.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.24). The firm had revenue of $1.29 billion for 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 in the previous year, the company posted ($1.10) EPS. Equities research 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 declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, August 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.9%. Selective Insurance Group's dividend payout ratio is presently 24.88%.

Analysts Set New Price Targets

SIGI has been the topic of a number of research reports. Piper Sandler lowered 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. Morgan Stanley lowered Selective Insurance Group from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $86.00 to $72.00 in a research report on Tuesday, August 5th. Keefe, Bruyette & Woods lowered their price target on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a research report on Monday, July 28th. Finally, 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. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $87.33.

About Selective Insurance Group

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.