Trust Point Inc. Purchases New Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Trust Point Inc. purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,530 shares of the insurance provider's stock, valued at approximately $1,246,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of Selective Insurance Group by 516.0% in the 4th quarter. Morgan Stanley now owns 1,959,603 shares of the insurance provider's stock valued at $173,641,000 after purchasing an additional 1,641,463 shares during the period. Norges Bank acquired a new position in Selective Insurance Group in the 4th quarter valued at approximately $41,343,000. Price T Rowe Associates Inc. MD lifted its position in Selective Insurance Group by 317.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 525,083 shares of the insurance provider's stock worth $46,527,000 after buying an additional 399,386 shares in the last quarter. FMR LLC boosted its stake in shares of Selective Insurance Group by 11.5% during the 3rd quarter. FMR LLC now owns 3,866,827 shares of the insurance provider's stock valued at $398,941,000 after buying an additional 398,517 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Selective Insurance Group by 3.2% during the 2nd quarter. BlackRock Inc. now owns 7,339,403 shares of the insurance provider's stock valued at $704,216,000 after acquiring an additional 226,054 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating for the company in a report on Friday, February 2nd. Keefe, Bruyette & Woods lowered their price target on Selective Insurance Group from $111.00 to $109.00 and set a "market perform" rating for the company in a research note on Tuesday, February 6th. Finally, Piper Sandler restated a "neutral" rating and issued a $104.00 price objective on shares of Selective Insurance Group in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Selective Insurance Group currently has a consensus rating of "Hold" and a consensus target price of $105.17.

Insider Activity at Selective Insurance Group

In other news, COO Brenda M. Hall sold 2,626 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the sale, the chief operating officer now directly owns 10,511 shares of the company's stock, valued at $1,112,904.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Selective Insurance Group Stock Up 0.1 %

Shares of NASDAQ:SIGI traded up $0.06 on Wednesday, reaching $105.02. The company had a trading volume of 228,192 shares, compared to its average volume of 318,645. The stock has a market capitalization of $6.38 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.77 and a beta of 0.55. The stock has a 50-day moving average price of $103.46 and a 200 day moving average price of $102.93. Selective Insurance Group, Inc. has a twelve month low of $91.99 and a twelve month high of $109.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. On average, equities analysts expect that Selective Insurance Group, Inc. will post 7.68 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Wednesday, February 14th. Selective Insurance Group's dividend payout ratio is currently 24.01%.

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.