Victory Capital Management Inc. Buys 149,901 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Victory Capital Management Inc. increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,190,389 shares of the insurance provider's stock after acquiring an additional 149,901 shares during the period. Victory Capital Management Inc. owned 1.96% of Selective Insurance Group worth $118,420,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SIGI. Blue Trust Inc. lifted its holdings in shares of Selective Insurance Group by 68.9% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider's stock worth $27,000 after buying an additional 104 shares during the last quarter. Headinvest LLC bought a new stake in shares of Selective Insurance Group during the third quarter valued at approximately $62,000. Morton Brown Family Wealth LLC acquired a new position in shares of Selective Insurance Group in the fourth quarter valued at $82,000. Fifth Third Bancorp lifted its position in Selective Insurance Group by 12.3% in the third quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider's stock worth $121,000 after purchasing an additional 128 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Selective Insurance Group by 15.3% during the third quarter. SG Americas Securities LLC now owns 1,718 shares of the insurance provider's stock worth $177,000 after buying an additional 228 shares in the last quarter. 82.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $104.00 price objective on shares of Selective Insurance Group in a report on Monday, April 1st. Royal Bank of Canada decreased their price objective on Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating on the stock in a report on Friday, February 2nd. Oppenheimer reissued an "outperform" rating and issued a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $105.17.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI traded up $0.64 during midday trading on Friday, reaching $96.41. The company's stock had a trading volume of 644,921 shares, compared to its average volume of 328,688. The business's fifty day simple moving average is $103.51 and its 200-day simple moving average is $102.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a fifty-two week low of $91.99 and a fifty-two week high of $109.58. The company has a market capitalization of $5.86 billion, a P/E ratio of 16.92, a P/E/G ratio of 0.75 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.55). Selective Insurance Group had a net margin of 8.02% and a return on equity of 14.06%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The company's revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts expect that Selective Insurance Group, Inc. will post 7.67 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, May 14th. Selective Insurance Group's dividend payout ratio is 24.74%.

Insider Buying and Selling at Selective Insurance Group

In related 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 transaction, the chief operating officer now owns 10,511 shares in the company, valued at $1,112,904.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.