Trexquant Investment LP Has $7.51 Million Stock Holdings in Selective Insurance Group, Inc. $SIGI

Key Points

• Trexquant Investment LP significantly increased its stake in Selective Insurance Group, purchasing an additional 73,497 shares, bringing its total ownership to 82,040 shares, valued at approximately $7.51 million.
• Insider transactions were noted with Director Robert Kelly Doherty acquiring 1,500 shares and EVP Joseph Eppers purchasing 1,402 shares, both reflecting increases in their respective ownership stakes.
• Selective Insurance Group reported Q2 earnings of $1.31 per share, missing estimates by $0.24, with a revenue of $1.29 billion against an anticipated $1.32 billion.

Trexquant Investment LP lifted its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 860.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,040 shares of the insurance provider's stock after acquiring an additional 73,497 shares during the period. Trexquant Investment LP owned approximately 0.13% of Selective Insurance Group worth $7,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in Selective Insurance Group during the first quarter worth $36,943,000. Vaughan Nelson Investment Management L.P. boosted its stake in Selective Insurance Group by 36.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider's stock worth $103,280,000 after buying an additional 299,925 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Selective Insurance Group by 245.7% during the fourth quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider's stock worth $26,622,000 after buying an additional 202,318 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Selective Insurance Group by 273.5% during the first quarter. MetLife Investment Management LLC now owns 261,165 shares of the insurance provider's stock worth $23,907,000 after buying an additional 191,237 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Selective Insurance Group by 39.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider's stock worth $52,796,000 after buying an additional 160,193 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Selective Insurance Group Trading Up 1.6%

NASDAQ:SIGI traded up $1.31 on Thursday, hitting $80.53. 175,755 shares of the stock were exchanged, compared to its average volume of 460,830. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 13.16 and a beta of 0.44. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $103.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. The company's 50-day moving average price is $81.73 and its 200 day moving average price is $85.21.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 EPS 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 period last year, the company earned ($1.10) earnings per share. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Selective Insurance Group's dividend payout ratio is 24.88%.

Insider Buying and Selling

In related news, Director Terrence W. Cavanaugh purchased 2,000 shares of the stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $75.72 per share, with a total value of $151,440.00. Following the purchase, the director directly owned 25,295 shares in the company, valued at $1,915,337.40. The trade was a 8.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas A. Mccarthy purchased 2,500 shares of the stock in a transaction dated Monday, July 28th. The stock was bought at an average cost of $77.42 per share, with a total value of $193,550.00. Following the completion of the purchase, the director owned 18,746 shares in the company, valued at $1,451,315.32. The trade was a 15.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 10,602 shares of company stock worth $817,440 over the last quarter. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BMO Capital Markets set a $88.00 price target on shares of Selective Insurance Group and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Piper Sandler cut their price target on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, July 25th. 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 for the company in a report on Monday, July 28th. Finally, Morgan Stanley cut Selective Insurance Group from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $86.00 to $72.00 in a report on Tuesday, August 5th. One investment 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $87.33.

Selective Insurance Group 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.