Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Diversified Trust Co

by · The Markets Daily

Diversified Trust Co reduced its position in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 50.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,381 shares of the insurance provider’s stock after selling 4,433 shares during the period. Diversified Trust Co’s holdings in Selective Insurance Group were worth $409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SIGI. Goldman Sachs Group Inc. lifted its holdings in Selective Insurance Group by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 505,325 shares of the insurance provider’s stock worth $50,270,000 after acquiring an additional 18,457 shares during the last quarter. Wellington Management Group LLP increased its position in Selective Insurance Group by 188.2% in the fourth quarter. Wellington Management Group LLP now owns 1,450,417 shares of the insurance provider’s stock worth $144,287,000 after buying an additional 947,147 shares during the period. Vanguard Group Inc. lifted its stake in Selective Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 6,206,485 shares of the insurance provider’s stock valued at $617,421,000 after buying an additional 41,276 shares during the last quarter. Skyline Advisors Inc. bought a new stake in Selective Insurance Group in the fourth quarter valued at $754,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Selective Insurance Group during the fourth quarter valued at $1,041,000. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Performance

Shares of NASDAQ SIGI opened at $92.47 on Friday. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58. The firm has a market cap of $5.62 billion, a P/E ratio of 16.34, a PEG ratio of 1.55 and a beta of 0.56. The stock has a fifty day moving average price of $89.79 and a two-hundred day moving average price of $94.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last announced its earnings results on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($2.59). The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. During the same period in the prior year, the business earned $0.99 EPS. Research analysts forecast that Selective Insurance Group, Inc. will post 3.84 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. Selective Insurance Group’s dividend payout ratio is currently 24.73%.

Analyst Ratings Changes

A number of analysts recently weighed in on SIGI shares. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $104.00 to $99.00 in a report on Monday, July 22nd. Royal Bank of Canada cut their price target on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a report on Monday, July 22nd. Piper Sandler decreased their price objective on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets increased their price target on Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and an average price target of $98.50.

Check Out Our Latest Report on Selective Insurance Group

Insider Buying and Selling

In other Selective Insurance Group news, Director Terrence W. Cavanaugh bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $85.85 per share, with a total value of $171,700.00. Following the completion of the purchase, the director now directly owns 20,651 shares in the company, valued at approximately $1,772,888.35. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, CEO John J. Marchioni bought 2,400 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were acquired at an average cost of $83.56 per share, for a total transaction of $200,544.00. Following the acquisition, the chief executive officer now directly owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Terrence W. Cavanaugh bought 2,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $85.85 per share, for a total transaction of $171,700.00. Following the completion of the transaction, the director now directly owns 20,651 shares of the company’s stock, valued at $1,772,888.35. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

About Selective Insurance Group

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report).