Alamar Capital Management LLC Sells 443 Shares of Selective Insurance Group, Inc. $SIGI

Alamar Capital Management LLC decreased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,652 shares of the insurance provider’s stock after selling 443 shares during the period. Alamar Capital Management LLC’s holdings in Selective Insurance Group were worth $1,183,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Frank Rimerman Advisors LLC grew its holdings in Selective Insurance Group by 3.0% during the first quarter. Frank Rimerman Advisors LLC now owns 4,728 shares of the insurance provider’s stock worth $433,000 after purchasing an additional 136 shares during the period. Martingale Asset Management L P grew its holdings in Selective Insurance Group by 0.5% during the first quarter. Martingale Asset Management L P now owns 28,140 shares of the insurance provider’s stock worth $2,576,000 after purchasing an additional 141 shares during the period. UMB Bank n.a. grew its holdings in Selective Insurance Group by 16.3% during the second quarter. UMB Bank n.a. now owns 1,079 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 151 shares during the period. Hsbc Holdings PLC grew its holdings in Selective Insurance Group by 1.7% during the first quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider’s stock worth $922,000 after purchasing an additional 173 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Selective Insurance Group by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 7,117 shares of the insurance provider’s stock worth $651,000 after purchasing an additional 185 shares during the period. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 5.7%

Shares of SIGI stock opened at $76.56 on Friday. The firm has a 50 day moving average price of $79.79 and a two-hundred day moving average price of $83.75. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $4.66 billion, a PE ratio of 11.80 and a beta of 0.39. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 13.22%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $1.40 earnings per share. As a group, analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a $0.43 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.38. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.2%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.88%.

Insider Activity

In other Selective Insurance Group news, Director Robert Kelly Doherty purchased 1,500 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was bought at an average cost of $77.00 per share, for a total transaction of $115,500.00. Following the completion of the transaction, the director owned 27,110 shares in the company, valued at approximately $2,087,470. This represents a 5.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas A. Mccarthy purchased 2,500 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was acquired at an average price of $77.42 per share, with a total value of $193,550.00. Following the completion of the transaction, the director owned 18,746 shares of the company’s stock, valued at $1,451,315.32. This represents a 15.39% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 7,200 shares of company stock worth $558,298. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

SIGI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on 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. Morgan Stanley lifted their price target on Selective Insurance Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Piper Sandler reduced their price target on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, July 25th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $81.00.

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.